$16 mln fisheries understanding memo singed

SANA'A, June 06 (Saba)- Ministry of Fisheries Wealth and Khalij
al-Phil Company singed on Saturday a Memorandum of Understanding
with a total cost of $16 million.

Upon the memo, singed by Fisheries Wealth Minister Mohammed Shamlan
and chairman of company's board Mohammed al-Shayef, the company will
establish a fish and shrimp aquaculture.

The company will also set up a center for preparing fishery exports
and setting up a market for fish sale.

The agreement stipulated the ministry prepares the economic,
technical and environmental feasibility studies for the projects and
its achieved stages according to the Investment Law.

TD/AM