CABINET APPROVES MOU TO SET UP 400MW GAS STATION IN MARIB

SANA'A, Feb.16 (Saba) – The Cabinet approved on Tuesday a memorandum of understanding signed between the Ministry of Electricity and the Yemeni Company for Industrial Investments Ltd., to establish a gas station of 400 MW in Marib province.

In this regard, the cabinet directed Ministers of Legal Affairs and Electricity to complete the necessary legal procedures to set up the station and identified the total proportion of government contribution by 49 percent and the rest to the investment company and its partners.

The cabinet assigned the Technical Committee of the Higher Committee for Energy to discuss the four agreements, including fuel supply, implementation, land lease and power purchase, with the investment company and to use an international consultant to assist in the completion of the agreements.

Furthermore, the cabinet defined the tenders' period not to exceed four months as of the current February and stressed that the memorandum contents, the establishment contract and the company regulations should be subjected to the laws in force in Yemen, especially laws of bodies, institutions , public corporations , trading companies, investment and electricity.

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