Saudi Arabia to fund Yemen power grid project

Yemen received a $100 million (Dh367m) loan from Saudi Arabia to fund the expansion of the electricity grid, Alrroya Aleqtissadiya reported. Construction will begin in the second half of the year, the Abu Dhabi-based newspaper said, citing Electricity Minister Awadh Al Socotri. Bidding for the $272m project contract has been restricted to 11 Saudi companies, he said.