Yemen’s AISCO plans $1.6 billion investment
11 Feb 2009
(MENAFN) Yemen-based Arab Iron and Steel Corp (AISCO) has unveiled plans to spend $1.6 billion to turn a plant, which started in 2005 and now sells 100,000 tons domestically, into a regional exporter that makes its own power, Reuters reported.
The company, which is based in Aden’s free-trade zone, plans to increase steel output to 1.5 million tons in the next decade, managing director Ravinder Singh told the news service.
He pointed out that a conventional fuel power plant on site will be expanded and supplied with fuel by tapping marginal gas fields that are not connected to a $4.5 billion LNG export operation in Yemen launched in October with the help of France’s Total.
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more