SANA

May 2024

Foreign Minister Faisal Mekdad and the Chinese Ambassador to Syria have formally signed a brand new protocol which seeks to increase strategic commercial ties between the two states with a series of projects.

1. China National Petroleum and Syrian Petroleum Company have agreed upon a joint venture in Block 3 of Syria's offshore Oil and Gas zones and exclusive CNP rights to Block 2, which will be developed between the parties following exploration

2. The Syrian Petroleum Company and Fushun Mining Group will begin a joint venture exploring Oil Shale production around Aleppo, a deposit of over 39 billion tones of Oil Shale in the 14 blocks

3. Syria and China will agree upon the construction of a Solar Desalination plant in Baniyas which will also be able to supply green hydrogen

4. CNP will provide technical assistance and equipment/aid to rebuild the Syrian Petroleum Company's conventional Oil and Gas infrastructure, through 1.2 billion dollar loan at 5%

5. Syria and China will agree to a 3 billion dollar loan to the Syrian Steel and Cement industry bringing Syrian Steel production back up to 700,000 metric tons and bringing Syrian Cement production back up to pre war levels, simultaneously Syria will begin implement new Chinese green Steel and Cement technologies as well as rubble recycling to aid in reconstruction