[Syria Reaches Agreement with Saudi Arabia to Restart Hama Steel Plant]

Published: Sep 3, 2026 14:15

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Syria's Ministry of Economy and Industry has signed a 30-year strategic agreement with Saudi Arabia-based Ithraa Holding Group to rehabilitate, modernize, and operate the General Company for Iron and Steel Products in Hama. Signed August 28 during the Damascus International Fair, the plan allocates the first five years to rehabilitation and modernization, followed by a 25-year operational period, with output targeted to reach at least 350,000 tonnes per year within four years. The deal marks a step toward reviving Syria's idle industrial infrastructure and reducing its reliance on steel imports, while also signaling deepening economic ties between Syria and Saudi Arabia.

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