SYRIA INKS AGREEMENTS WITH UCC HOLDING LED
Syria''s Ministry of Energy signed final agreements on Thursday with a consortium of international companies, led by the Qatari-based UCC Holding, to build four new power plants with a total
A Heavy Legacy of Destruction The war has left Syria's energy infrastructure in ruins. Damaged oil and gas fields, power plants, and transmission lines have exacerbated a severe electricity crisis. Losses to the electricity sector alone amount to an estimated $40 billion, according to former regime officials.
Upon completion, the projects are expected to supply over 50% of Syria's national electricity needs, representing a transformative leap toward energy security, economic revival, and infrastructure resilience. This initiative goes beyond grid stability, aiming to deliver widespread social and economic impact through:
Rehabilitating Syria's energy sector is central to its economic revival. Restored power will benefit households, where electricity access in Damascus is currently limited to three hours a day, and reinvigorate factories and industrial facilities that have been paralyzed for years.
DAMASCUS, July 18 (Reuters) - U.S.-based firms Baker Hughes (BKR.O), Hunt Energy and Argent LNG will develop a masterplan for Syria's oil, gas and power sector, Argent LNG CEO Jonathan Bass said on Friday, in a partnership aimed at rebuilding energy infrastructure shattered by 14 years of civil war.
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