A senior official at the Yemeni General Investment Authority confirmed that Yemen signed a memorandum of understanding (MoU) with a British company to set up a large tourism project at the Zuqr Islandin at the Red Sea, reported Al-Hayat. Preliminary forecasts estimate the project to cost between $500 million and one billion dollars.
The British company, whose name has not yet been disclosed, plans to build a chain of hotels in the region. It will also set up the necessary infrastructure facilities needed fo rthe operation of such a tourist enterprise, including an airport, roads, a seaport and an electricity station. The project is expected to accommodate 6,000 tourists per day, and employ 6,000 workers. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
