Knauf Gips To Modernize Gypsum Plant In Syria
The General Company for Marble and Asphalt (GCMA) of Syria has entered into a joint venture agreement with Knauf Gips of Germany to modernize and revamp an existing state-owned plant in Lattakia. For this purpose the government has approved the establishment of a new company Knauf Lattakia with a capital of S£250mn ($5mn) which will be owned 67% by Knauf and its affiliates and 33% by GCMA. Under the agreement, which has a term of 20 years extendable for 10 years, Knauf will build a new production line to raise output to 140 tons/day of gypsum powder, 360,000 sq ms/year of plaster boards and 39,000 tons/year of other types of plaster.
