What we know about Syria’s airport expansion plans: A consortium led by Qatar’s UCC Holding has signed an MoU with Syria’s General Authority of Civil Aviation to redevelop and expand Damascus International Airport at an investment cost of USD 4 bn, according to a press release published last week. The five-stage project will be managed as a build-operate-transfer venture. A timeline for the project has not been disclosed.

Who’s involved? UCC Holding’s investment arm UCC Concessions is heading the consortium, which comprises Assets Investments USA and Turkish construction players Cengiz İnşaat, Kalyon İnşaat, and TAV Tepe Akfen.

The project also earmarks USD 250 mn in financing to purchase up to 10 Airbus A320 aircraft for Syrian Airlines. This is intended to enhance the national carrier’s fleet and boost its competitiveness.

What to expect: The initial phase of the redevelopment will expand the airport’s annual capacity to 6 mn passengers within the first year, followed by a second phase that will increase it to 16 mn. The final phase aims to reach an annual capacity of 31 mn passengers and conform to International Civil Aviation Organization and International Air Transport Association standards. It will also feature up to 32 gates equipped with passenger boarding bridges and integrated air navigation systems.The project aims to extend the airport’s main access road to 50 km.

We knew this was coming: Syria's Investment Minister Talal Al Hilali stated last week that a new airport development is planned with a USD 4 bn investment.

Int’l business is eager to revive Syria: The project comes as part of a spate of agreements — amounting to USD 14 bn — announced by Syrian premier Ahmed Al Sharaa last week, Reuters reports. The agreements include projects in infrastructure, transportation, and real estate.

ALSO- Ankara and Damascus signed a protocol to launch the Joint Economic and Trade Committee — set to serve as a mechanism to support business community exchanges between the countries, as part of a bid to raise annual bilateral trade volumes to USD 5 bn, Azerbaijani outlet Azernews reported last week.

What they said: “[Turkish] trucks will no longer need to transfer cargo or swap trailers at the Syrian border. In the near future, Aleppo will become a robust logistics hub. Syria’s transport corridors will be reactivated, and we are entering a new era of mutual gain in trade, including renewed transit access to Gulf countries,” Turkish Trade Minister Ömer Bolat was quoted as saying.

Tags: