A joint venture, set up by private Egyptian, Saudi and Syrian investors, has received authorization from Damascus to build a $540 million cement factory in Abu Shamat.
According to the Middle East Times, the partners plan to take advantage of the new Syrian law banning cement imports. The venture reportedly includes Egyptian Hassan Allam Group and Saudi Prince Khaled Bin Fahd Bin Nasser Bin Abdel Aziz. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
