Phosphate investment deal

Phosphate investment deal

Syria’s Geological and Mineral Resources Authority has signed an agreement with Teryaq, a subsidiary of Serbia’s Exlixir Group, aimed at exporting 1.5 million t/a of phosphate by the end of 2026. The agreement marks a significant step in Syria’s efforts to expand international partnerships and optimise its mineral resources for economic gain. Elixir Group owns the largest phosphoric acid plant in Europe and operates three fertilizer plants in Serbia.

Syria’s Director-General of the Geological and Mineral Resources Authority, Siraj al-Hariri, told local media that the deal will cover the entire phosphate process, from exploration and extraction to export. The first phase aims to export 1.5 million tons of phosphate by 2026, with potential for further cooperation, including the establishment of phosphate processing plants tied to related industries.

“This is the first step in entering global markets,” al-Hariri said, adding that Syria plans to ramp up phosphate production to 5 million t/a in the coming year, with the possibility of increasing output to 7 or 8 million t/a.