Reuters reported that Yemen signed an agreement with India's Bharat Heavy Electricals for USD 392.7 million power plant.

As per report, the 400 MW gas powered project in Maarib province is funded by the Saudi Fund for Development, the Arab Fund for Economic and Social Development, and the governments of Yemen and Oman.

Yemen said last week that BHEL had won the bidding for the project, in which seven international companies took part, including firms from Saudi Arabia and South Korea.

(Sourced from Reuters)