Ministry of Industry Sign Marketing Contracts Worth 172 billion SP

DAMASCUS- The value of marketing contracts signed by the Ministry of Industry since the beginning of the current year and up to the fifth month has amounted to 172 billion Syrian pounds, including many public and private entities to market the entire production of industrial institutions and companies.

The Ministry of Industry said in a report obtained by SANA that the Cement Corporation comes at the forefront of industrial enterprises in terms of marketing with a total value of more than 113 billion pounds followed by the Food Corporation for a total amount of 14 billion pounds, then the engineering institution of 22 billion pounds and textile 13 billion pounds Chemicals amounting to seven billion pounds and the sugar company three billion pounds and about two billion in the rest of the companies.

The report pointed out that the ministry and its institutions will double this figure during the coming period at the level of discharging the stores and marketing the new production, especially since most of the production provides the needs of the local market and the need of public bodies for the necessary products, especially food and textile.

“The value of accumulated assets in industrial companies was reduced by 17.4 billion SP during the first five months of this year. The largest share of the General Establishment of textile industries was 13 billion SP, mostly cotton yarns, textiles, paper towels and other textile products,” the report pointed out.

The ministry said in a statement that these measures come within the framework of the marketing of stocks to secure liquidity for companies to be able to increase industrial production and caring about quantity and quality and to strengthen its presence in the local market and to ensure the need of various commodities, as well as to eliminate the assets of facilities in a balanced manner and increase production capacities in those companies.

Sh. Kh.