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Indian company seeks to invest $1.2 bn in
Yemen
Saturday February 02, 2013 06:04:51 PM,
IANS
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Sanaa: Indian Nagarjuna
Construction Company is seeking to invest $1.2 billion in Yemen,
Yemeni official agency Saba reported.
A delegation from the Indian company is due to arrive in the
Yemeni capital of Sanaa next week to hold meetings on the projects
which will include an ammonia plant with a capacity of 700,000
tonnes a year, a urea plant with a capacity of 1.3 million tonnes
a year and a power plant with a capacity of 200 megawatts,
chairman of Yemen's general investment authority Yahya Saleh
Muhsen was quoted by Saba as saying.
The delegation will also discuss ways to develop the partnership
between the company and Yemen and will pay a visit to the Aden
free trade zone where projects will be established, reported
Xinhua citing Saba Friday.
Muhsen said the authority is preparing for the visit and will be
glad to provide all facilities to encourage the Indian company to
start the construction of the projects as soon as possible.
"Such projects are given top priority at the moment since they
will contribute to the efforts that aimed at boosting sustainable
development in the country," he was quoted as saying.
Yemen is also preparing for the participation in the second India
Engineering Sourcing Show which will be held in Mumbai March
14-16, Muhsen said.
"The show will provide a good opportunity to attract Indian
investments into Yemen and to enable businessmen from both
countries to have mutual projects," he said.
Also, Indian businessmen have voiced their interest to invest in
Yemen as part of the plans of the countries to develop their
economic links, Muhsen said.
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