Mam international to invest $ 1 bln in Yemen

SANA'A, July 15 (Saba)- Mam International Corporation company and its partners has allocated one billion dollar to set up fishinginvestment projects in Yemen. A memorandum of understanding was signed on Monday between the company and the Ministry of Fisheries Wealth, the company would set up investment projects in fish growing in the Yemeni waters in accordance with field studies.

In a statement to Saba, deputy minister of fisheries wealth Khaled Shamsi said that the company would conduct economic studies of those projects to hand over them to the ministry with six months."The company will build laboratories and centers for developing fishexports.

These center will be supplied with modern techniques in accordance with international standards of exporting," he said. Shamsi said that top two projects will be two farms of fish growing for sealives as well as factory to produce different seizes and kinds of fish tools.The memo was signed by the minister of fisheries wealth Mohammed Shamlan and director of the company Mohamed Abdul Majid. AH