By NNN-KUNA
Damascus : The Kuwait-financed highway linking Lattakia and Ariha in the northern Syrian city of Aleppo is a vital economic project that would boost commercial traffic between Syria and the world, said an official here.
Ghazi Khadour, an official in charge of following up the execution of the project, said in a press release Thursday that the road will contribute to commercial activities as a connection of the Syrian industrial and oil production areas from northern provinces to export ports in the east of the country.
A project financed by the Kuwait Fund for Arab Economic Development (KFAED), and executed by the Kuwaiti Al-Kharafi company, the raod costs is estimated at around USD 300 million. The KFAED bears 51 per cent of the total cost while the Syrian government bears the remaining 49 per cent. The project is expected to be finalised next November.
Besides this highway, the KFAED is also financing other projects in Syria for the development of electricity, water, sewage, communication, and industrial sectors at an estmiated value of USD 1 billion.