Yemen, Saudi Arabia sign fuel treaty

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Yemen, Saudi Arabia sign fuel treaty

[12/08/2018 03:28]

RIYADH-SABA
Yemen and Saudi Arabia signed on Sunday the memo of understanding on Saudi grant for supplying Yemen's power plants with oil derivative.

The treaty states that Saudi Arabia will supply Yemen with monthly shipments of fuel worth USD 60 million for three months and the treaty is extendable.

Minister of Public Works and Roads, the Deputy Head of Coordination Committee with Saudi Arabia Engineer Maeen Abdulmalik, and Deputy Head of Saudi Bank for Development Khaled bin al-Khudhairi signed the treaty.

The Reconstruction Program in Yemen and Saudi Aramco have been also included in the signing.

Minister Abdulmalik praised the Saudi support to Yemen for boosting Yemen's economy and finalizing steps of reconstruction programs started in a number of provinces.

The oil grant will help in securing fuel supply to power plants in coastal cities and will enable the government of making use of revenues for supporting education, health and basic services, he added.

The minister pointed to president's keenness on transparency and following up mechanism of distribution of oil derivatives.