Granting an investment license for a photovoltaic solar plant project in Damascus Countryside

The Syrian Investment Agency granted an investment license for a photovoltaic solar plant project with a capacity of 10 megawatts annually in the industrial city of Adra, in Damascus Countryside.

In a statement to SANA, Director of the Syrian Investment Agency, Madian Diab, stated that the estimated cost of the project amounts to 49 billion Syrian pounds, and it is expected to provide a 71-job opportunity. He indicated that the project comes in the light of the Agency’s effort to launch investment projects that support the generation of the electric power, using renewable and clean resources, which reduces the local energy gap and supports the provision of residential and investment needs.

Diab pointed out that these projects benefit from a set of advantages, incentives, and exemptions stipulated in Investment Law No. 18 of 2021, most notably obtaining a tax reduction of 50 percent of the income tax for a period of ten years.

Souha Sulieman