Syria on Thursday signed a $7 billion deal with a Qatar-led business group aimed at doubling the country's power supply, in the latest move to boost its postwar economy.
The Syrian government signed an agreement with a consortium of companies led by Qatar's UCC Holding to add 5,000 megawatts to the national grid. The country is being battered by a severe power crisis.
“Today, we are witnessing a historic moment that marks a turning point in Syria's energy and electricity sector, as we work to rebuild the crumbling infrastructure of this vital sector,” Syria's energy minister Mohammad Al Bashir said in a speech during a signing ceremony at the Syrian presidential palace in Damascus.
“This memorandum strengthens regional co-operation and integration in the energy sector and helps us promote clean and renewable energy projects,” he added. The Syrian state is able to supply only two to three hours of electricity per day in most areas – a crisis that interim President Ahmad Al Shara has pledged to address.
The lifting of sweeping sanctions on Syria has rekindled interest among global investors, with several major companies already establishing a foothold in the war-ravaged economy.
The agreement includes the development of four combined-cycle gas turbine (CCGT) power plants, in Deir Ezzor, Mhardeh, Zayzoun in Hama province, and Treifawi in Homs province, with a total capacity of about 4,000 megawatts. It also covers a 1,000-megawatt solar power plant in Wadyan al-Rabee in southern Syria.
The deal has been spearheaded by the Qatari energy and construction company UCC Holding and involves the US company Power international USA, and the Turkish companies Cengiz Enerji and Kalyon Enerji. UCC chief executive Ramez Al Khayyat praised the agreement, which he said “marks a new phase of joint work to rebuild Syria by achieving self-sufficiency and ensuring sustainable development”.
“We will use the latest equipment in the energy sector, and the project will create over 50,000 direct jobs and 250,000 indirect jobs, contributing to the support of Syria’s labour market,” he added.
Fourteen years of war have decimated Syria’s electricity network, reducing its capacity from 9.5 gigawatts in 2011 to 1.6 gigawatts today. The United Nations estimates that billions of dollars will be needed to rebuild it.
US President Donald Trump announced the lifting of sanctions during his recent Gulf tour, a day before the historic Trump-Al Shara meeting in Riyadh. The US President said he wanted to give the new regime a "chance at greatness".
The EU on Wednesday formalised its own decision to begin lifting economic sanctions, while leaving some in place related to the former regime of Bashar Al Assad.
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Europa League group stage draw
Group A: Villarreal, Maccabi Tel Aviv, Astana, Slavia Prague.
Group B: Dynamo Kiev, Young Boys, Partizan Belgrade, Skenderbeu.
Group C: Sporting Braga, Ludogorets, Hoffenheim, Istanbul Basaksehir.
Group D: AC Milan, Austria Vienna , Rijeka, AEK Athens.
Group E: Lyon, Everton, Atalanta, Apollon Limassol.
Group F: FC Copenhagen, Lokomotiv Moscow, Sheriff Tiraspol, FC Zlin.
Group G: Vitoria Plzen, Steaua Bucarest, Hapoel Beer-Sheva, FC Lugano.
Group H: Arsenal, BATE Borisov, Cologne, Red Star Belgrade.
Group I: Salzburg, Marseille, Vitoria Guimaraes, Konyaspor.
Group J: Athletic Bilbao, Hertha Berlin, Zorya Luhansk, Ostersund.
Group K: Lazio, Nice, Zulte Waregem, Vitesse Arnhem.
Group L: Zenit St Petersburg, Real Sociedad, Rosenborg, Vardar
UAE currency: the story behind the money in your pockets
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'THE WORST THING YOU CAN EAT'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
RESULTS
Women:
55kg brown-black belt: Amal Amjahid (BEL) bt Amanda Monteiro (BRA) via choke
62kg brown-black belt: Bianca Basilio (BRA) bt Ffion Davies (GBR) via referee’s decision (0-0, 2-2 adv)
70kg brown-black belt: Ana Carolina Vieira (BRA) bt Jessica Swanson (USA), 9-0
90kg brown-black belt: Angelica Galvao (USA) bt Marta Szarecka (POL) 8-2
Men:
62kg black belt: Joao Miyao (BRA) bt Wan Ki-chae (KOR), 7-2
69kg black belt: Paulo Miyao (BRA) bt Gianni Grippo (USA), 2-2 (1-0 adv)
77kg black belt: Espen Mathiesen (NOR) bt Jake Mackenzie (CAN)
85kg black belt: Isaque Braz (BRA) bt Faisal Al Ketbi (UAE), 2-0
94kg black belt: Felipe Pena (BRA) bt Adam Wardzinski (POL), 4-0
110kg black belt final: Erberth Santos (BRA) bt Lucio Rodrigues (GBR) via rear naked choke
New schools in Dubai
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
The five pillars of Islam
RESULTS
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UAE currency: the story behind the money in your pockets
Where to Find Me by Alba Arikha
Alma Books
Profile of Foodics
Founders: Ahmad AlZaini and Mosab AlOthmani
Based: Riyadh
Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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Company Profile
Company name: Yeepeey
Started: Soft launch in November, 2020
Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani
Based: Dubai
Industry: E-grocery
Initial investment: $150,000
Future plan: Raise $1.5m and enter Saudi Arabia next year
KILLING OF QASSEM SULEIMANI
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
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