Minister of Electricity: Support for Foreign Companies Wishing to Invest in Electricity Sector

Damascus, (ST) –  The Minister of Electricity Imad Khamis underlined his ministry’s support and encouragement for foreign companies wishing to invest in the electricity sector and to support the development process in Syria, particularly during the reconstruction phase and to provide all the necessary facilities including administrative and legislative requirements.

During a meeting with a delegation representing Chinese, Ukrainian, Norwegian and Austrian firms interested in investing in power generation, Eng. Khamis reviewed the strategic vision of the ministry for the electricity sector and the necessary investments up to 2025 with the aim of reconstruction, on the one hand,  and to continue the development work of the sector on the other, at a cost of up to about 19 billion euros distributed on the establishment of power stations, distribution networks and renewable energies projects, noting that the financing of this strategy will be locally through own resources or through loans from friendly countries, in addition to the participation of the private sector in accordance with the participatory act, which includes appropriate legislative environment and guarantor for any investor.

Minister Khamis pointed out that in spite of the circumstances of the current situationin Syria, the Ministry of Electricity continued the development process through the establishment and expansion of power plants and the conversion and maintaining the infrastructure for the electricity sector, explaining that the terrorist attacks, which affected infrastructure in the oil sector led to a lack of in the quantities of fuel to run power plants and thus led to lower the amount of electricity produced.

For their part, representatives of the foreign companies reviewed some projects that can be created by them in Syria regarding the electricity sector, such as the establishment of generation stations, supply power plants, convert mobile or static electricity conversion and warehouses mobile fuel stations.

The delegation also met with members of a technical team at the Ministry of Electricity and discussed with them the offers, technical and administrative procedures related to investment in Syria, which would accelerate the implementation of pilot projects in Syria positively that improve the reality of the electricity sector in Syria.

Sh. Kh.