Three Saudi firms are working on the final arrangements for launching three cement factories in Yemen at a cost of US$760m, the September 26 website reported.
The investments will be commissioned in December this year and the first quarter of next year in the provinces of Hadramout and Abyan in the south. The plants will produce 4.180 tons of cement a year.
One of the plants is to be launched by the Arabian-Yemeni Cement Company in Mukalla city in Hadramout this month. The plant is deemed the Gulf private sector’s second biggest investment in the country, implemented at a cost of US$260m.
Saudi businessman Abdullah Buqshan is chairman of the board of directors of the company.
The company said in a statement the plant, which covers 22km2, will start production by this year, producing 4000tpd.