Syria, Lebanon establish joint tobacco plant
The governments of Lebanon and Syria have agreed build a joint tobacco factory in the Syrian region of Bekaa. The cost of the plant is expected to reach $80-$100 million, reported Lebinvest. The factory will produce high quality cigarettes, possibly under a foreign franchise.
The joint venture also entails an open exchange arrangement of tobacco between the two countries as a way of reducing smuggling activities along the Lebanese-Syrian border.
Syria is relatively self sufficient in tobacco production and in cigarette manufacturing with little foreign trade in these commodities. It is the leading producer of tobacco leaves in the Middle East and North Africa region, accounting for over 33 percent of the region's total production. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
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