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British firm to set up hotel chain in Yemen.

Asia Africa Intelligence Wire

| January 01, 2002 | COPYRIGHT 2002 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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