Oil refinery in Hadhramout [Archives:2004/736/Local News]

May 10 2004

A number of Saudi and Emirates businessmen have agreed to fund the building of an oil refinery in Yemen at a cost of $225 million.
Hadhramout Refining Company, which is owned by a number of Saudi, Emirates and Yemeni investors, signed last Thursday an agreement with two South Korean companies to implement the project to establish an oil refinery at Al-Dhabah Port in Hadhramout.
This would be the first refinery to be built jointly by local and Arab private sectors in Yemen. The work will take 30 months before completion, with a production capacity in its first phase of 50 thousand barrels per day.