Chairman of the Board of Directors of Al-Shulif Company for Trading and Investment Ahmed Ali Al-Shulif pointed out that a joint coalition of Gulf, British and Yemeni investors intend to build a cement factory in Mareb at total costs of US$260m.
Al-Shulif added that Yemeni, Emirate, Qatari and British investors were granted a license from the General Authority of Investment to establish a cement factory named as Hilan Mareb Company for Cement.
The coalition also intends to build two other factories in the same province at invest costs reaching $870m.
According to Al-Shulif, the total production capacity during the first phase will reach 1.2Mt and this will increase to 2Mt by implementing the second phase.
The project also includes setting up two power stations to produce 90 megawatt costing about $30m. The factory’s foundation stone is to be laid next October.