MAREB, Dec. 02 (Saba)- A Delegation of the Saudi Fund for Development (SFD) headed by head of Loan Department Mohammad Assufian inspected on Sunday the project of the gas-powered
electricity generating station which the fund contributes in its construction with $50 million in the first phase.

The project's manager Khaled Rashed briefed the delegation on the project, clarifying that the ratio of accomplishing the project has reached 75 percent and it is due to be finished during the first half of 2008.

Rashed pointed out that the total output of the station would be 341 megawatts with the total cost of $159 million, including $50 million from the SFD, $34 million from Arab Fund for Economic and Social Development and $35 million from the Yemeni government.

Rashed confirmed that the delegation's visit aimed at inspecting the project and preparation for the second phase in which SFD would provide $100 million.

Earlier, Mareb governor Aref Azzouka discussed with the delegation the field of economic cooperation between Yemen and SFD.

Azzouka praised the Saudi generous support to Yemen while Assufian pointed out that Saudi Arabia has committed to support Yemen's electricity, water and investment with $1 billion.

MS/YA


Saba