The memorandum was signed by Minister of Wealth Fisheries Mohammed Shamlan and General Manager of the company Ali al-Ba'adani, reports SabaNews.
They say that under the memorandum, the company conducts economic and technical feasibility studies on the project and establishes an integral farm for shrimp in the Red Sea coasts according to the studies' results and environmental effect assessment carried out by the company.
The memorandum also stipulated on exchanging information and scientific experiences between the two sides in farming shrimp and visiting the company's investments' sites to avail from its experiences.
$12 million for Farming Shrimp in Red Sea Coasts
YEMEN - Ministry of Wealth Fisheries of Yemen recently signed an understanding memorandum with a local company for farming shrimp in the Red Sea coasts amounting to $12 million.
