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Investing.com -- Syria has entered into a memorandum of understanding with a consortium of international companies, spearheaded by Qatar’s UCC Holding. The collaboration aims to develop major power generation projects, with foreign investment estimated around $7 billion, according to a statement released by UCC Holding on Thursday.
The deal includes the construction of four combined-cycle gas turbine power plants and a solar power plant in southern Syria. The gas power plants are expected to have a total capacity of 4,000 megawatts, while the solar plant is projected to generate 1,000 MW.
The construction of these facilities is set to commence following the finalization of agreements and financial closure. The gas plants are expected to be completed within a three-year timeframe, and the solar plant is targeted to be finished in less than two years.
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