Deir Ez Zor - The Deir Ez Zor Development Establishment, which aims at financing activities and projects in the fields of development and the petroleum and natural gas industries, was launched officially on Saturday.
This project is the result of cooperation between the Syrian government and Shell Syria, with the board of directors representing the Syrian side and Shell Syria equally.
Minister of Petroleum and Mineral Resources Sufyan al-Alaw pointed out that Shell Syria's contracts have been extended in exchange for the company providing an annual grant of USD 2 million for ten years for development projects in the Eastern area.
Al-Alaw said the projects which will be financed by the grant include four water filtration stations, digging wells and building treatment centers and reservoirs for them, building treatment centers for hospitals, deliver water and establish sewage systems for villages, and restore old marketplaces.
The Minister pointed out that the new Establishment will attract more grants, such as the grant from Total for oil excavation and production which will provide a grant of USD 1.5 million starting in 2011.
In turn, Minister of Local Administration Tamer al-Hejjeh noted that the Establishment will provide an independent budget for strategic projects, and that his Ministry has many developmental plans that are impeded by the lack of funding.
For his part, General Manager of Shell Syria Ole Myklestad underlined that the Establishment is a new step towards achieving partnership between the Syrian government and his company.
By H. Sabbagh / Ghossoun
© SANA (Syria Arab News Agency) 2009
