TARTUS, Syria – The seaport of Tartus in Syria will be leased by Russia for 49 years for economic use and transport within a week, Russian Deputy Prime Minister Yuri Borisov told reporters after meeting with Syrian President Bashar Assad.
In 2017, Russia and Syria signed an agreement on the deployment of the logistical center of the Russian Navy for 49 years in Tartus.
“We are very advanced in this matter and we hope that within a week the contract will be signed,” said Borisov.
The politician believes that this step will give a serious boost to mutual trade.
“I hope it will be beneficial, in the first place, for the Syrian economy,” said the deputy prime minister.
The agreement can be extended automatically for another 25 years. It is defensive in nature and is not directed against other countries.
Russian companies plan to build an airport and a joint factory for the production of vaccines in Tartus as well. This was in the framework of the agreements reached by the intergovernmental commission, the head of the Planning Department,Imad Al Sabuni, told Al Watan newspaper back in December.
He mentioned these initiatives among the most important of a total of 30 investment projects agreed upon at the 11th meeting of the Russian-Syrian intergovernmental commission held on December 13 and 14.
According to Al Sabuni, it is planned to implement these projects in the years 2019-2021.
In addition, the head of the department said that eight projects will be carried out in the field of industry, for example, the parties agreed to restore a tyre plant in the province of Hama and build a new cement factory in Aleppo.
He added that two other projects seek to train professional personnel in the industry and increase the role of scientific research.
The rest of the initiatives cover the areas of transport, aquatic resources, food production and housing construction.