AISCO plans expansion

Sana'a: Yemen's Arab Iron and Steel Corp (AISCO) plans to spend $1.6bn to turn a plant, which started in 2005 and now sells 100,000 tonnes domestically, into a regional exporter that makes its own power.

The firm, which is based in Aden's free-trade zone, plans to increase steel output to 1.5m tonnes in the next decade, managing director Ravinder Singh told the news service.

He said 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 $4.5bn LNG export operation in Yemen launched in October with the help of France's Total.