Middle East Economic Survey
VOL. XLIX
No 4
23-January-2006
YEMEN
Indias Reliance To Take 25% Stake In Yemen Refinery
Indias Reliance Industries is expected to take a 25% stake in a proposed $450mn, 60,000 b/d refinery at Ras 'Isa on Yemens Red Sea coast (MEES, 14 March 2005). The Ras 'Isa Refinery Company is a new venture 50% owned by Yemens HoodOil, a subsidiary of the Haseel Saeed Anam Group. The International Finance Corporation (IFC) will extend a $45mn loan to the project and invest another...
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