Signature(s)
Summary sheet
The promoter is a locally incorporated company, established to implement the proposed project. The company is majority-owned by a European cement producer.
The project concerns the construction and operation of an integrated cement plant with a capacity of 7,500 ton per day of clinker, equivalent to some 2.6 Mt of cement per annum.
The project will primarily cater to the domestic market which is currently in deficit. By facilitating local cement production this project should reinforce Syria’s capacity for self-sustaining development, increasing the local value added while replacing the present high level of more expensive cement imports. The project is of particular significance being one of the first large scale private sector investments in the industrial sector in Syria. The project further supports Foreign Direct Investment (FDI) by a European company into Syria.
An equivalent project in the EU would fall under Annex II of Directive 97/11/EC. An Environmental Impact Assessment has been carried out. Mitigating measures to be applied, if any, and compliance with relevant legislation will be assessed during appraisal.
Procurement procedures will comply with the Bank’s procedures for private-sector projects