Saudi al-Wad Corporation to set up 600mln project in AFZ

ADEN, Dec. 14 (Saba)- Aden Free Zone and Saudi Al-Wad Corporation
signed on Sunday a memorandum of understanding to set up a city for
commercial activities at area of 146 hectare - G block- at a total
coast of $ 600 million.

Under the memo, the AFZ would offer all facilities and database for
the Saudi corporation to prepare studies on the project within
ninety days since the date of signature of the memo.

The five-year project is considered one of the biggest projects set
up in the block.

The memo was signed by the chairman of the Aden Free Zone
Abdul-Jaleel al-Showaibi and director general of the Saudi
corporation Amr Salam Mahriz.

AH