Local Syrian paper factory re-opens
The Syrian cabinet recently approved a contract signed by the Austrian Fimpex Company to re-open a paper-manufacturing factory in Deir Al-Zour. The new factory is expected to produce 60,000 tons of paper per annum, Al-Hayat reported.
The Syrian-Austrian joint venture is geared to reinvigorate the public sector’s enterprises. After being shut down for 25 years, the plant’s renovation is expected to cost 2.3 billion Syrian pounds ($44 million).
The Austrian company was commissioned to supply the necessary raw materials and machinery for the factory. The seven-year contract forecasts to generate SP 125 million in revenues annually to the Syrian Paper Company. — (Mena Report)
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