The Saudi-Yemeni Petroleum Materials Company is expected to complete feasibility studies regarding Al-Mekla Oil Refinery in Yemen next month, according to London based Al-Hayat daily.
Saudi and Yemeni businessmen had previously registered the company in Dubai, which is to begin operations in the near future. Initial findings of the study expect costs of the refinery to reach $700 million, to be contributed equally by both the Yemeni and the Saudi groups.
Construction of the plant is planned to be completed within three years, at which time it will produce 60,000 tons of oil per annum. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
