Monday, Jan 22, 2007
BEIRUT (Zawya Dow Jones)--Souria Holding with a capital 4 billion Syrian pounds ($80 million) will launch its operations shortly, a senior company official said Monday.
"We received approval from the cabinet on Jan. 7 and we are preparing to launch the holding's activities very soon," Rawad Abou Assaleh, the company's business development manager, told Zawya Dow Jones in a phone interview.
The company is planning four projects this year for a total cost of $300 million.
The first will be a real estate project, the second a tourism project and the last two will be in the services sector for transportation and ports development.
The company is planning to create units to manage the projects.
Abou Assaleh didn't provide details about the projects, but said that two of them will be located in or close to Damascus, while the tourism and ports development project will be in Lattakia.
Souria Holding will form its board of directors by next week and will then announce its strategic plan, said Abou Assaleh.
The board will be chaired by Haytham Joud, who heads a major family-owned trade and industrial conglomerate in Syria.
-By Nadim Issa, Zawya Dow Jones, +961 1 985757, nadim@zawya.com
Copyright (c) 2007 ABQ Zawya Ltd.
(END) Dow Jones Newswires
22-01-07 1108GMT
