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Microcap & Penny Stocks : Adair Intl. Oil and Gas (AIGI)
AIGI 0.00010000.0%Oct 31 9:30 AM EDT

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To: Bill Kinkade who wrote (754)3/19/2001 8:38:52 AM
From: Bill Kinkade  Read Replies (1) of 769
 
NEWS!!


Monday March 19, 6:30 am Eastern Time
Yemen, Adair in $60 mln power, sugar plants deal
ADEN, March 19 (Reuters) - Yemen said on Monday it has signed a $60 million agreement with a group led by U.S. Adair International Oil and Gas (OTC BB:AIGI.OB - news) to build a power plant and a sugar refinery at the Aden Free Zone.

A Free Zone Authority statement said the group -- Adair, Arkel international and local al-Jalla -- would build a 21 megawatt power generation plant and a sugar refinery with an annual capacity of 200,000 tonnes.

It said work on the two plants was expected start in six month and would be completed 20 months later.

The projects are part of a $500-million plan by the impoverished Arab state to develop an industrial and storage base linked to Aden's port and container terminal.

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