Qatar, an independent Emirate on the west coast of the Persian Gulf on the northeastern coast of the Arabian Peninsula in the Middle East whose terrain comprises arid desert, dunes and long beaches, known for its futuristic skyscerapers and other ultramodern architecture inspired by ancient Islamic design, one of the richest countries in the world because of its reserves of oil and natural gas, through Qatar UCC Holding signed with the Syrian Arab Republic a Memorandum of Understanding (MOU) worth more than US$4 billion in foreign investment to redevelop Damascus International Airport and modernize Syrian Airlines.
The new - five - company consortium is headed by Quatar’s UCC Holding, a Qatari - based international Energy, Concessions and Construction company, distinguished as a Grade A licensed builder that since its inception has maintained a consistent track record of profitability, supported by a diverse and thriving portfolio spanning both local and international projects, establishing a significant construction footprint in Qatar and the world.
The main task of the Qatari holding is to redevelop and expand Damascus International Airport located 30 kilometres southeast of the city in the Governate of Rif Dimashq, connected to the capital by the M5 motorway and modernize the fleet Syrian Airlines, operating as SyrianAir, the flag carrier of the country founded in 1946 and member of the alliance Arab Air’s Carriers’ Organization.
The project represents a cornerstone of the nation’s reconstruction initiatives, a pivotal milestone in a series of major developments implemented in vital sectors such as energy, reconstruction, and infrastructure and it aims at enhancing global connectivity and contributing to the growth of the Syrian economy, trade, and tourism after the civil war.
This relevant investment is one of the largest in Syria’s infrastructure in decades, it reflects the country’s drive to restore its regional and international position, representing a multifaceted effort involving political, economic and social rebuilding.
Key aspects include addressing economic challenges, and rebuilding infrastructure, and International support is crucial as well as finding its place in the regional air market.
The project form part of a package of strategic initiatives supporting Syria’s economic recovery after frozen assets, limited access to international financing, and the impact of sanctions that restrict the flow for reconstruction and development, and is directed by the Emir of the State of Qatar.
The consortium that includes Turkish construction companies Kalyon Holding and Cengiz Holding, as well as TAV Airports, will run a build - operate transfer venture. The latter will be executed in five successive phases.
This includes to increase capacity to 6 million passengers in the first year, increasing to 16 million in the second phase, and ultimately reaching 31 million at fully capacity and the consolidation of Damascus Airport in the region and in the international landscape becoming one of the most modern and advanced air hubs in the Middle East.
The airport inaugurated in the mid - 1970s will integrate the highest international standards approved by the Civil Aviation Organization (ICAO) and the International Air Transport Association (IATA).
The new airport will feature up to 32 gates equipped with modern passenger boarding bridges and a fully integrated air navigation service system. The future air terminal will integrate a world - class duty - free area housing a wide selection of international restaurant upscale cafes, and leading fashion brands.
The project also includes the development of the main access road to the airport, stretching up to 50 kilometres improving its connectivity.
The new Syrian airport is expected to create more than 90.000 jobs and stimulate the national economy across multiple sectors, and enable the country to return as an active player in the regional and international aviation network.
Part of the investment is US$250 million will help financing to purchase up to 10 Airbus A320 aircraft for Syrian Airlines, aiming at enhancing the fleet and increasing the competitiveness of the national carrier that operated scheduled international services to several destinations in Asia, Europe and Africa, though the number of flights operated has seriously declined since 2011 due to the Arab Spring and subsequent Syrian war.
Chairman of UCC Holding, Mr. Mohammad Moutaz Al - Khayyat stated that this project embodies the outcome of a strategic partnership bringing together a select group of leading international companies with a unified goal : rebuilding one of Syria’s most vital facilities in a way that reflects its future ambitions.
President and Group CEO of UCC Holding, Mr Ramez Al - Khayyat said that this project is not just about redeveloping Damascus International Airport; it is a strategic bridge carrying Syria toward a future of recovery and prosperity.
UCC Holding is investing in a sustainable development vision that enhances trade and tourism, connects Syria to the world at the highest standards, and stimulates economic growth and investment across all sectors. Leveraging Syria’s strategic location and one extensive local and regional partnerships and Damascus International Airport will become a model for advanced, smart transportation in the region.
Link
https://www.travelmole.com/news/qatar-fund-syria-air-transport/
No comments:
Post a Comment
Thanks a lot to read and note.