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

JEDDAH, March 31 (Saba) - A contact of funding a project of sugar
factory in Aden Free Zone (AFZ) was signed on Tuesday 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.

AH