Global Arab Network | Contract of setting up $ 250mln sugar factory in Yemen signed

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Contract of setting up $ 250mln sugar factory in Yemen signed

Global Arab Network - - Maha Karim

Tuesday, 31 March 2009 23:37

A contact of funding a project of sugar factory in Aden Free Zone (AFZ) was signed Today at sum of $ 250 million between the Islamic Cooperation for Developing Private Sector- one of Islamic Bank for Development corporations - and Saudi Madrok al-Amodi Group.
The implementation of the project will last for two-years and grant 400 jobs – its production is expected to cover needs of Yemen, African and neighboring countries.

The Yemeni ambassador to Riyadh Mohammed al-Ahoal said that the Islamic Bank for Development has voiced desire to fund several development projects in the AFZ, saying that the project of the sugar factory would be one of key projects of the private sector.

Al-Ahoal highlighted support of Saudi private sector for the development in Yemen.

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