Yamama to take 20% stake in Yemeni Saudi

Yamama to take 20% stake in Yemeni Saudi
Published: 06 July 2009

Saudi Arabia’s third biggest cement firm by sales, Yamama Cement, has said that it has agreed to take a 20% stake in the Yemeni Saudi Cement Company for US$15m.

Yemeni Saudi Cement owns a cement plant near the Yemeni city of Aden with a design capacity of 1.4Mta and which is expected to start production next year.

The deal must be approved by the assembly of shareholders in Yemeni Saudi Cement Co for the legal proceedings and the agreement to be finalised.