Syrian Sovereign Fund and Tiryaki Syria Sign Agreement to Operate and Develop Al-Alamiya Oils Facility
The Syrian Sovereign Fund has signed a strategic investment and cooperation agreement with Tiryaki Syria to operate and develop Al-Alamiya Oils Manufacturing Facility in Hama Governorate, with an operational investment of approximately USD 80 million. The partnership aims to restore the facility to the production cycle and strengthen the role of agro-processing industries in supporting Syria’s food security.
The agreement extends for 10 years and leverages Tiryaki Group’s technical and operational expertise in the manufacturing and trading of agricultural products. It aims to develop the facility, enhance its efficiency, and more closely align its industrial capacity with the needs of the local market.
The facility is expected to process around 300,000 tons of soybeans and refine 100,000 tons of crude sunflower oil annually, supporting the production of edible oils, animal feed, and products linked to the poultry and livestock sectors. Once the planned operational capacity is reached, the annual value of processed products is expected to reach approximately USD 300 million.
The agreement was signed on behalf of the Syrian Sovereign Fund by Mr. Basel Mohammad Ayoub, Director of the Food Industries and Feed Sector, in the presence of Mr. Mazen Al-Salhani, Chairman of the Board of the Syrian Sovereign Fund, and Mr. Hashem Sha’sha’a, General Manager of Tiryaki Syria.
The project is not limited to restoring the facility’s production capacity. The partnership also includes the transfer of technical and operational expertise and the training of local talent. Syrians are expected to represent no less than 75% of the workforce in technical and administrative positions.
Through this partnership, the Syrian Sovereign Fund seeks to reconnect a major industrial asset with the agricultural and food production chain, expanding demand for local crops and inputs, strengthening linkages between farmers, manufacturers, suppliers, and markets, and transforming the facility’s reactivation into a productive activity whose impact extends from the field to industry and the market.
