Yemen signed an agreement with India's Bharat Heavy Electricals (BHEL) on Sunday for a $392.7 million power plant, the Yemeni state news agency Saba said.

The 400-megawatt gas-powered project in Maarib province is funded by the Saudi Fund for Development, the Arab Fund for Economic and Social Development, and the governments of Yemen and Oman, the agency said.   

Yemen said last week that BHEL had won the bidding for the project, in which seven international companies took part, including firms from Saudi Arabia and South Korea. - Reuters