Phase II of Aden Free Zone Soon to be Launched [Archives:2001/46/Business & Economy]
Preparations for the construction of the second phase of Aden Free Zone will start at the end of this year by the construction of the goods and air cargo village at Aden International Airport. The project will include the building of an industrial and warehousing area at the cost of USD 10 million. The Yemeni air carrier, Yemenia Airlines, will finance the goods and air cargo project with USD 7 million as a joint venture with the Free Zone Authority which will provide the project with USD 3 million. This project presents a commercial importance as it will double the warehousing capacity of Aden Free Zone and will increase volume of trade exchange with world countries through air cargo. It is useful to mention that the container, the goods and air cargo project will be build in an area covering 198 hectares and will be furnished with up-to-date shipping equipment. Moreover, the project aims to re-ship imports to other ports after some modifications made on them in cooperation with experienced companies. The project will include sophisticated telecommunication and service techniques in order to facilitate transportation and marketing of goods through air cargo to different ports of the world. The construction of the goods and air cargo village at Aden International Airport is one part of many projects which will be accomplished at Aden Free Zone including:
1- Construction of an industrial area for light and heavy industries such as sugar refining, fabrics and petrochemicals.
2- Building a warehousing and service area to facilitate the flow and exchange of goods between the Container Terminal in Aden and other ports around the world.
3- Upgrade of Aden Oil Refinery and update of the refueling equipment, as well as the construction of a new dock for small boats and the setting up of a floating dock. The second phase project of Aden Free Zone is scheduled to be completed in 2004 with an overall cost of USD 254 million. As officially scheduled, there are four phases that have been achieved in the first phase, while the implementation of the second phase will begin at the end of the current fiscal year. The third phase will start in 2005 and will be completed in 2012 at the cost of USD 2.3 billion. The most important projects to be constructed during the next phases are: the construction of an additional 4 docks at Caltex Terminal; the deepening of the Caltex Channel Terminal; and, the construction of housing complexes in West of Mansura City.
Let us mention that President Ali Abdulah Saleh inaugurated the works of Aden Container Terminal on September 11, 1999.