Yemen’s Ministry of Oil and Minerals has awarded a consortium consisting of UAE-based Chemie-Tech and Indian Oil Tanking Anwesha Engineering and Construction (IOTAEC) a $160mn contract to build a new oil terminal at Ras Issa on the Red Sea, close to the existing terminal.

The onshore facilities at the new port will cost an estimated $120mn, while the marine facilities will have a price tag of $40mn; a Yemeni government source told the daily al-Hayat on 13 October. (CONTINUED - 328 WORDS)