Saudi Arabia will invest 7.5 billion Saudi riyals ($2 billion) to develop two airports in the Syrian city of Aleppo over several phases, Saudi Investment Minister Khalid al-Falih says.
The planned aviation projects come as part of a broader Saudi push to expand economic ties with Damascus following the lifting of US sanctions on Syria in December, which had long constrained foreign investment and reconstruction efforts after more than a decade of civil war.
Earlier this week, the Syrian Investment Authority said Riyadh was preparing a multi-billion-dollar investment package that also includes backing for a new private Syrian airline and projects in sectors such as telecommunications and real estate.
Saudi Arabia has moved closer to Syria’s interim government over the past year, announcing billions of dollars in investments and dozens of deals with Saudi companies, as Damascus seeks to rebuild damaged infrastructure and revive its economy.
Times of Israel staff contributed to this report.
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