Powering Syria's Future: A $7 Billion Global Collaboration

Syria's new infrastructure development is set to receive a boost with a $7 billion investment led by Qatar's UCC Holding. The deal includes the construction of combined-cycle gas turbine power plants and a solar power plant. These projects aim to generate over 50% of Syria’s electricity needs post-war.

Syria is on the cusp of a major infrastructure overhaul with a $7 billion memorandum of understanding signed with Qatar's UCC Holding. This international consortium plans to develop significant power generation projects in the war-torn country.

The ambitious agreement consists of constructing four combined-cycle gas turbine power plants, with a capacity of 4,000 megawatts, and a 1,000-MW solar power facility in southern Syria. Syrian Energy Minister Mohammed al-Bashir heralds the move as vital for the nation's recovery strategy.

These projects, expected to cover over half of Syria's electricity needs, signal a strategic shift in power infrastructure. Finance will come from regional and international banks, along with UCC Holding and its partners, providing an injection of capital to rejuvenate Syria's electricity grid.

(With inputs from agencies.)