In Brief [Archives:2002/20/Business & Economy]

New dams to protect Aden
To protect Aden from the dangers of floods, Adens Local Authority is to build dams costing YR 73,964,337 with storage capacity of 308,169 cubic meters.
Similarly, to celebrate the 12 anniversary of the unification of Yemen, water catchments will be added in the city at a total cost of 21,140,000 and storage capacity of 96,000 cubic meters.
The Asskhra water basin, another project in Aden, cost 25,960,233 having a storage capacity of 71,429,000 cubic meter, will also be inaugurated this month.
Regional meeting promotes industry
A regional conference for developing national industries with the participation of 17 Arab countries, plus others, will be held in Sanaa during October.
Available investments opportunities as well as liberalization trade in Yemen will be discussed during this conference.
Oil production up
Dr. Rasheed Barabaa, Minister of Oil, predicts that oil production at block 53 will rise to 35,000 barrels per day. In addition, there are new production rigs at the same block producing 18,000 barrels a day.
Barabaa added that theyre planning to drill three developing rigs at this block.

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