U.S investor and China establish tires factory in Syria

A U.S investor of Syrian origin and the Chinese government intend to build tires factory in Syria that will be cost 90 million dollars with an annual production capacity 2.1 million tires.

Fredrik Sodan, head of the board of director of the Syrian company for tires said "the factory is the first of its sort in Syria and will begin commercial production in beginning of 2002."

He said the foundation stone was placed this week by Ahmed El-Hamo, the Syrian industry minister who represented prime minister Mohammed Mostafa Miro, saying that he owns 82.5% of the factory's shares which is located nearly 41 kilometers south of Damascus, while the Chinese government represented in the Chinese minerals and contract company 'M.C.C' and the 'Colin' group for engineering and chemistry owns 15% of the shares while Mohammed Bashir Hegazi owns the rest 2.5% shares.

Sodan said "the factory which will employ 900 workers and experts will start with an experimental production of 1.5 million tires."