Syrian-Turkish agreement worth $80 million to restart oil factory in Hama

The Syrian Sovereign Fund, represented by Mr. Basil Muhammad Ayoub, Director of the Food and Feed Industries Sector, signed a strategic and investment cooperation agreement with the Turkish Teriyaki Company, with the aim of operating the International Oils Manufacturing Plant in Hama Governorate, as part of an operational investment project valued at approximately 80 million US dollars.

The project aims to rehabilitate and operate the factory and develop its production capabilities, so that the value of the processed products is expected to exceed 500 million US dollars annually, making it one of the most prominent industrial projects in the food industry sector inside Syria.

The Syrian Sovereign Fund confirmed that this step comes within the framework of its efforts to support local investment and production, strengthen the food security system, and attract strategic partnerships that contribute to revitalizing the industrial sector and driving economic growth.

The project is expected to contribute to creating direct and indirect job opportunities, in addition to supporting production and supply chains, which will reflect positively on the national economy and enhance the path of recovery and development in Syria.