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FINANCIAL NEWS
Yemen’s AISCO plans $1.6 billion investment
11 Feb 2009
(MENAFN) Yemen-based Arab Iron and Steel Corp (AISCO) has unveiled plans to spend $1.6 billion to turn a plant, which started in 2005 and now sells 100,000 tons domestically, into a regional exporter that makes its own power, Reuters reported.
The company, which is based in Aden’s free-trade zone, plans to increase steel output to 1.5 million tons in the next decade, managing director Ravinder Singh told the news service.
He pointed out that a conventional fuel power plant on site will be expanded and supplied with fuel by tapping marginal gas fields that are not connected to a $4.5 billion LNG export operation in Yemen launched in October with the help of France’s Total.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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