Hadhramout: 923 projects to be launched this year [Archives:2005/817/Business & Economy]
Hadhramout province will witness amidst the festivals of the 15th Anniversary of the Yemen Reunification, the launch of about 923 projects at the cost of YR 131 billion, said Abdullah Abdu Rabbuh, General Manager of the General Investment Authority, Hadhramout branch.
“Eleven projects will be in the areas of fishery, construction materials, industry and tourism. There is also the project of the Central Ready Concrete Mixer and rock-shaping machines,” added he.
Two of the projects will be in tourism and fisheries, which will enhance the infrastructure in the province. He indicated that the next period would witness the laying down of many foundation stones and the inauguration of many strategic projects such as Hadhramout Cement Factory and Hadhramout Refinery whose study is being prepared.
President Ali Abdullah Saleh has issued directives to hold 22 May's festivals in Al-Mukalla, the metropolis of Hadhramout in order to recognize the role of this province in the process of construction and development and in appreciation of the ongoing achievement of giant projects especially those whose financers are immigrants Hadhramis. The President praised the role of the immigrants saying that they “have turned the province into a great workshop.”
President Saleh reviewed the progress of work in the Investment Housing City Durrat Al-Mukalla (The Pearl of Mukalla) in which some 120 heavy machines are flattening the ground preparing for construction. This project is financed by the private sector resembled in the Yemeni Development Group. It will be constructed on 4 million square meters and will contain 10,000 housing units to be constructed over three stages at an estimated cost of YR 60 billion. The first phase, which is being currently undertaken, costs some YR 10 billion. This project covers the construction of several service facilities including a modern commercial center, a park, tourist center, cinema house, cultural center, mosque and a marina in the seawater. The city will be equipped with all basic amenities and service facilities which it will need making it attractive to tourists.
President Saleh welcomes such investments and pledged to give support and care for investors.
Statistics point out that some 420 investment, service and development projects were achieved last year in different areas in Hadhramout at a cost of YR 76 billion.