Private power plant developed in Syria
Syria, Business, 12/10/1997

Tractebel-Sarakbi Group will develop a major private power plant in Syria of a 600 megawatt production capacity and at a cost of US $500 million.

It is the first power project to be undertaken by the private sector in Syria and is expected to be operational by the year 2,000. The group and the Syrian ministry of electricity will start soon finalizing the details of the power purchase agreement. The two sides are formalizing their partnership as a joint venture company under the name of "The Syrian Power Investment Company," incorporated under Belgian law, in which Tracterbel will be the manager.

The Sarakbi Group is an international investments group chaired by Bourhan Sarakbi, a US. Citizen of Syrian origin, and has a base in Beirut, Lebanon. Nicolas Atherinos, Senior Vice President of Tractebel Electricity and Gas International commented: "This is another benchmark for Tractebel in the Middle East. Tractebel has already successfully completed the first private power project in the Gulf region, al-Manah power complex in Oman, which was inaugurated in 1996."

With the completion of this project, Tractebel is returning to Syria. The company used to operate tramway and power concessions in the capital Damascus and in Aleppo, the second largest city of Syria, during the first half of this century.

Previous Stories:
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