Syrian authorities seek to secure $4 billion for the renovation of Damascus Airport.
Under the patronage of Syrian President Ahmad Al-Sharaa, a significant development has been announced for the aviation industry in Syria. The country has signed a memorandum of understanding with a consortium led by Qatar's UCC Holding, aiming to redevelop Damascus International Airport at a cost of $4bn.
The project, which embodies a strategic partnership between leading international companies, is set to enhance the airport's capacity and infrastructure. UCC Holding, the consortium's leader, has previously worked on the development and execution of various airports, including Hamad International Airport in Qatar, Rwanda International Airport, and Tripoli Airport in Libya.
The airport redevelopment will be executed in five phases, with the initial phase designed to handle 6 million passengers. Subsequent phases will expand the capacity to 16 million, finally reaching the target of accommodating 31 million passengers annually.
The aim of this project is not only to improve global connectivity but also to stimulate economic growth, trade, and tourism within Syria. UCC Holding chairman Mohammad Moutaz Al-Khayyat stated that the project embodies a strategic partnership bringing together leading international companies with a unified goal: rebuilding Syria's most vital facilities.
TAV chairman Sani Şener also expressed his views, stating that the project is a strategic investment opportunity for infrastructure development. He further added that the project is a gateway to revitalizing the Syrian economy and reintegrating it into regional and global trade and investment flows.
The project includes the development of a 50km access road and $250m financing for the acquisition of up to ten Airbus A320 aircraft for Syrian Airlines. Al-Khayyat also stressed the importance of integrating global expertise with a deep understanding of local market needs for the success of projects of this magnitude.
Besides the Qatari company UCC Holding, Saudi companies and investors are involved in projects related to the redevelopment and economic cooperation around Damascus, including sectors like infrastructure and industry. However, specific named companies other than UCC Holding have not been detailed explicitly.
The redeveloped airport will adhere to international standards set by the International Civil Aviation Organization (ICAO) and the International Air Transport Association (IATA), featuring modern facilities including up to 32 gates and a comprehensive air navigation service system.
The airport technology Excellence Awards celebrate innovation, leadership, and impact in the aviation industry. This project presents an opportunity for all parties involved to showcase their achievements, elevate their industry profile, and position themselves among top leaders driving advancements in the aviation sector.
The project is projected to generate more than 90,000 direct and indirect jobs, contributing significantly to the Syrian economy. This redevelopment is a testament to the commitment to rebuilding Syria's vital facilities and reintegrating it into the global community.
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