ARABYL HOLDS ADEN MEETING ON 2010 FUNDS, INVESTMENT PLANS

ADEN, Nov. 14 (Saba) – The Arab Yemen-Libya Holding Company Arabyl discussed in its third periodical meeting on Saturday in Aden the estimated budget for the fiscal year 2010 as well as the investment plan program.

Chairman of the company Abdul Karim Ali al-Thba'e said a meeting was held by the board of directors of the Sas Real Estate Company, an affiliate to the company.

The meeting reviewed progress on executive measures for the company's tourist complex in the Hiswa area in Aden, implemented at a cost of $ 75 million.

The project includes five five-star hotels with 301 rooms; covers 250.000 square meters on the coast against the city of Towahi; and is one of the facilities Yemen working on to cope with the 20th Gulf Football Championship it was previously agreed to host.

The company started the implementation of the project in May this year and was set to be completed by the end of October next year.

FR