Yemeni President Ali Abdallah Saleh will secure 300 million dollars in loan agreements for development projects in one of the world's poorest countries during a visit to China next month.
Beijing will finance the 120-million-dollar modernisation of a cement factory and two electricity projects worth a total of 186 million, official media quoted deputy planning minister Hisham Sharaf as saying.
Besides preferential rate loans for the three projects, Yemen is to seek for Chinese investment in a further 35 projects, including in oil and ports infrastructure, Sharaf said.
A delegation of 50 to 70 Yemeni businessmen will accompany the president on his visit to China starting April 6. Beijing has financed projects worth around 100 million dollars in Yemen over the last three years.
In January 2005, Chinese state-owned oil company Sinopec signed a 72-million-dollar deal for production in eastern Yemen.
China and Yemen are also to look at a possible deal on security co-operation during Saleh's visit, the defence ministry's September 26 weekly reported, without elaborating.
Since the September 11, 2001 attacks against the United States, Yemen, which is the ancestral home of al Qaeda leader Osama bin Laden.
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