INSEAD Day 4 - 728x90

2PointZero reports strong H1

Expansion drives earnings, revenue growth.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings

e& posts 11.6% revenue growth

The H1 net profit hits $1.63 billion.

TECOM profit up 9%

Revenue, occupancy drive earnings higher

DAE H1 profit $229m

Growth triggered by higher earnings, stron cash flow

Iran helps Syria build power plant in Latakia

  • Iran-based Mapna Group has been tasked with implementing the project
  • Iranian experts are aiding in this construction in an effort to assist the war-torn country in rebuilding itself

Iran is currently helping Syria build a power plant in the Latakia province of the country, said local reports on Monday, August 9.

Iran-based Mapna Group has been tasked with implementing the project, said the local reports.

Iranian experts are aiding in this construction in what the reports said was an effort to assist the war-torn country in rebuilding itself.

A number of gas turbines had been shipped to Latakia, in line with Iran’s efforts to complete the project, said the reports.

Images circulated across the social media showed huge equipment on heavy transport vehicles entering Latakia.

According to World Bank data, more than 99% of Syria had access to electricity in 2016.

However, occupation of the country by the Islamic State terrorist group dealt a blow the country’s power infrastructure, reducing energy access to around 86% of the entire population by 2018.

The new plant is expected to help bring back energy to those who lost access to it over the past decade.

Meanwhile, the country’s current condition is that it is experiencing power outages at night amid a sweltering heat wave.

Earlier local reporting claimed that the country needs 5 trillion Syrian pounds (around $4 billion) to rebuild what was once the region’s best power grid.