Syrian, Chinese Tire Cooperation

Economy & Aftermath

DAMASCUS, (ST)- The Ministry of Industry formed a working group to study the offer submitted by the Chinese government CamekEngineering Company for the development of Hama Tires Plant for a government guaranteed loan.

The offer by the Chinese company included the production of half a million to a million per a year of high-quality tires and using advanced technology competing tire manufacturers in the world.

The company is ready to guarantee a loan for the project that covers 85 percent of the value of the offer and the rest is paid by the Syrian government and that the loan period is of 15 years including 3 years of grace, an agreement on the benefits of the loan will be agreed and that the government provides a guarantee recovery of the loan  and interest by the Ministry of Finance by loan system used between the Syrian and Chinese governments.

The Syrian Company showed its strategic vision with the Chinese company is to find a strategic partner has the ability of investment cost and experience in the tire industry, and offers a famous brand and the partner has the right to submit legal, financial and regulatory proposals to  be studied jointly and reach an agreement that satisfies both parties

The General Directorof Hama Tires Company, eng.SamerHeidar, described the offer by the Chinese Camek Company  as good in principle and the Chinese company has to provide a full offer in addition to the formation of a team to study it from the relevant authorities.

The company has ceased production since April 2011 due to lack of financial liquidity and the offer can achieve a quantum leap for the company, noting that anything can be adjustable during discussions with the Chinese side to be the main objective is to re-develop the company and the return of production to markets.

Sh. Kh.

You might also like
Economy

With local and international participation, the “HITEC” exhibition for…

Economy & Aftermath

Conference of Investment Prospects and Visions in Reconstruction Phase continues its…

Economy & Aftermath

Conference on“Investment Prospects and Visions in the reconstruction phase” kicks off

Economy & Aftermath

ACSAD holds training course on proper management of salt-affected soils

.. _copyright: Copyright ========= .. code-block:: none Copyright (C) 1998-2000 Tobias Ratschiller Copyright (C) 2001-2018 Marc Delisle Olivier Müller Robin Johnson Alexander M. Turek Michal Čihař Garvin Hicking Michael Keck Sebastian Mendel [check credits for more details] This program is free software; you can redistribute it and/or modify it under the terms of the GNU General Public License version 2, as published by the Free Software Foundation. This program is distributed in the hope that it will be useful, but WITHOUT ANY WARRANTY; without even the implied warranty of MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the GNU General Public License for more details. You should have received a copy of the GNU General Public License along with this program. If not, see . Third party licenses ++++++++++++++++++++ phpMyAdmin includes several third-party libraries which come under their respective licenses. jQuery's license, which is where we got the files under js/vendor/jquery/ is (MIT|GPL), a copy of each license is available in this repository (GPL is available as LICENSE, MIT as js/vendor/jquery/MIT-LICENSE.txt). The download kit additionally includes several composer libraries. See their licensing information in the vendor/ directory.