Joint Syrian-Iranian Russian Company Soon

DAMASCUS,(ST) – Both Ministries of Oil and Mineral Resources and Transportation as well as some other bodies are in the process of establishment and the creation of a joint Russian-Iranian-Syrian company “joint stock company” to be based in Moscow, well informed sources told al- Baath Newspaper.

The same sources pointed out that it was agreed with the concerned authorities of the state ministries to prepare preliminary studies of the company and how to achieve the desired goal of the establishment and the extent of the economic viability that can be achieved.

Showed that The contribution of the Syrian government reaches 25% of the company’s capital,10% of the contribution of the Ministry of Petroleum and Mineral Resources, and 15% of the Ministry of Transport represented by the General Organization Of Maritime Transport, while the remaining ratios of the capital of the company distributed among the private sector in the three countries. The goal of the establishment of the company, according to the sources, is conducting maritime transport of crude oil and other petroleum derivatives.

With regard to the technical specifications of the tanker to be purchased, it was agreed, according to sources on the status lines to buy a tanker notably: to be a carrier of the model “Oaqramax”, and to be fit for navigation in international sailing areas.

 The sources revealed the serious and the actual steps carried out by the concerned authorities in terms of implementation and follow-up, whereas the embassies in Iran and Russia to inform them of the merits of the subject, in addition to that it has already been notified and informed of economic and commercial activities of the private sector in the two countries concerning the company to be established in accordance with what has been said.

According to the information provided to us, it has already been coordination with some private economic actors from both sides to join, participate and contribute in the establishment of the company, the sources added that the company’s activities could be expanded to include tankers for materials and needs required from the three countries.

Sh. al -Khatib