Saudi Fund to Extend $50m for Two Power Stations in Yemen
The Saudi Fund for Development (SFD) will grant Yemen two loans totaling $50 million to finance two power stations, each with a power generation capacity of 60 megawatts, reported the official Saudi Press Agency (SPA).
The two power stations will be set up in Sanaa and Aden.
Abdullah Hasan Al Shatir, the Yemeni assistant undersecretary for planning and development, was quoted as saying that the signing of the two accords was agreed upon during a meeting last month with the fund.
He said talks were also in progress with the fund's officials to seek two additional loans, each worth $50 million, to finance a number of road projects in various regions of Yemen, and to establish ten vocational training institutes – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)