Eastern Province Cement Yemeni subsidiary to hike capital

Eastern Province Cement Yemeni subsidiary to hike capital
Published: 15 February 2011

Saudi cement producer Eastern Province Cement Company (EPC) that it would allocate US$15m to participate in the capital hike of its Yemen-based subsidiary, Saudi Yemeni Cement Co Ltd, to US$150m.

EPC currently owns 30% in the Yemeni firm. After the capital hike, its stake will be worth US$45m, up from US$30m. The ownership structure and ratio will be preserved and EPC’s stake will remain at 30%.