Syria to establish new agricultural company

Syria on Thursday announced the establishment of a new agricultural company that will market agricultural products from Syria internationally.

Syrian Minister of Agriculture As'ad Mustafa said the company would have an initial capital of 400 million Syrian pounds ($9 million).

SANA quoted Omar al-Shalet, head of the Damascus Chamber of Agriculture, as saying, "Our aim is to get this company established to start the export of the Syrian products' surplus."

He added, "The company, the first of its kind will market the Syrian agricultural products including livestock, dairy products, fruits, vegetables which are produced in big quantities that exceed local consumption in the country."

He said that the company, called Fayha al-Sham and based in Damascus, would have 800,000 shares, with 44% owned by a group of businessmen and 25% owned by the Damascus Chamber of Agriculture.