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Our Bureau

Hayel Sayeed Anam Group in tie-up with Apollo Group

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Hyderabad Feb.15 The Executive Director of Yemen-based Hayel Sayeed Anam Group, Mr Shawki Ahmed Hayel, said the joint venture oil refinery project being undertaken with the Reliance group in Yemen would be completed within three years.

Speaking to newspersons after signing a hospital project here on Thursday with the Apollo Group, Mr Hayel said the 50,000-barrels a day, $552-million refinery project was being undertaken through a joint venture with the Reliance group withinvestments from International Finance Corporation and some other investors.

Retail expansion

The diversified Saeed Anam Group, which has operations in several countries in West Asia and North Africa, sees the possibility of working with Reliance group in some of the retail expansion plans in Yemen.

Mr Hayel said the company had partnered with Reliance and Tata Services and was exploring the possibility of workingwith more IT companies in India.

"The partnership with the Apollo Group marks the third major engagement for the company in India and we will continue to source products and goods for our trading-related business through the company business office in Mumbai," he said. The hospital being developed by the Hayel group in Taiz Yemen with an investment of $25 million is aimed at providing super speciality services. The company is in the process of finalising plans for more such hospitals in West Asiaand Africa.

More Stories on : Overseas Investments | Petroleum | Reliance Industries Ltd

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