Yemen’s Socotra province on Friday received its first shipment of fuel products provided under Saudi subsidies through the Saudi Program for Development and Rehabilitation of Yemen (SPDRY).
The grant will support power generation in several districts and will target power plants across Yemen’s governorates.
The fuel subsidy is provided as part of the recently announced Saudi development and economic support package, which comprises 28 development projects and initiatives worth SAR 1.9 billion.
The program has signed an agreement with Yemen’s Ministry of Energy and Power to purchase fuel products from Petromasila to supply more than 70 power plants in different governorates.
The initiative aims to strengthen institutional capacity, support power sector stability and service continuity, ensure the operation of critical national facilities, and stimulate the country’s economic recovery and growth.
The total volume of fuel products amounted to 339 million liters of diesel and fuel oil, valued at $81.2 million, which will be used to operate power plants in various prefectures. The supply is expected to improve the efficiency of government institutions and boost Yemen’s economy.
The grant is expected to have a positive impact on improving services in Yemen by increasing the reliability of electricity supply to hospitals, medical centres, roads, schools, airports and ports, and strengthening economic and commercial activities.
SPDRY has previously provided fuel subsidies worth $180 million in 2018, $422 million in 2021, and $200 million in 2022, in addition to the current 2026 subsidy.
