The General Establishment for Geology and Mineral Resources, affiliated with the Ministry of Energy, signed two agreements on Monday concerning the sale, investment, and marketing of phosphate. This comes as part of the Ministry's plan to increase production capacity and enhance the phosphate sector's role in supporting the national economy and boosting its revenues.
The agreements were signed in the presence of Energy Minister Mohammed al-Bashir at the Ministry building in Damascus.
The first agreement, signed with Al-Sharqia Trading and Contracting Company, involves the investment, exploration, production, and export of one million tons of phosphate from the mine site. Exports will be conducted via maritime transport within one year.
The second agreement, with Al-Hassan Holding Company, covers the sale and export of 2.5 million tons of phosphate. Of this, 1.5 million tons will be transported by sea and one million tons by land, thus expanding marketing channels.
The Syrian Ministry of Energy's Geological Establishment signed two agreements for the sale and investment of phosphate, aiming to increase production capacity.
The Director General of the General Establishment for Geology and Mineral Resources, Siraj al-Hariri, confirmed to SANA that the signing of these two agreements is part of the Ministry and Establishment's plan to increase phosphate production capacity and maximize the utilization of national resources. He explained that the agreements contribute to achieving real added value for the national economy and enhancing the presence of Syrian phosphate in foreign markets.
For his part, Hussam Sharqieh, Chairman of the Board of Directors of Sharqieh Company, indicated that the company looks forward to implementing larger and more comprehensive projects, particularly in the fields of fertilizer manufacturing and mining, in partnership with the Syrian government, which will contribute to supporting sustainable economic development.
In turn, Hassan Kamel al-Hassan, Chairman of the Board of Directors of al-Hassan Holding Company, expressed the company's aspiration to localize phosphate industries within Syria, explaining that the move towards manufacturing phosphate products locally will contribute to increasing added value and open up broader horizons for employment and investment. The General Establishment of Geology and Mineral Resources signed a cooperation agreement on December 17th with the Serbian company Tiryaq, a subsidiary of the ELIXIR GROUP, aimed at investing in and exporting 1.5 million tons of phosphate during 2026, in accordance with the highest internationally recognized technical specifications and standards.
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