br> ADEN, May 01 (Saba) – A final agreement would be singed soon for implementing a project to develop the industrial and storage zone in Block "L" at an investment cost of USD 300 million, Chairman of Aden Free Zone (AFZ) Abdul Jalil al-Shoaibi has said.

Speaking to Saba, al-Shoaibi added that the preliminary study of the project presented by Gulf of Aden Company, a subsidiary of Hail Saeed Anam Group, aims to develop components of a logistic and industrial storage zone for light industries and a commercial and industrial zone and an administrative service zone.

The Aden Free Zone (AFZ) is currently negotiating with a company of Bazar'a group companies to develop a full-service industrial zone on an area of 700,000 square meters in the Block (L) at an investment cost of USD129 million, said al-Shoaibi.

He pointed out that the AFZ is currently completing the technical procedures to start the work in the sugar refining factory of al-Amodi Company, to be constructed on an area of 20 acres in the AFZ at a cost of USD 250 million.

These large economic projects would make a qualitative leap in the development of the Free Zone in Aden to restore its economic and commercial position in the Arab region and the world, the chairman of AFZ explained.

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Saba