Yemen to see first Saudi factory opened in Hadramout
Saudi investors on Wednesday will open a US$260m cement factory with a production capacity of 1.5Mta in the eastern part of Yemen.
The factory, owned by Arabian Yemen Cement Company Ltd, will be the first Saudi cement factory set up in Mukalla city of Hadramout province, reducing the country’s dependence on imported cement from the Gulf and Asian countries.
The project is sponsored by Eastern Province Cement Company (30% shareholding) of Saudi Arabia and two prominent Saudi businessmen, Sheikh Mohammed Hussain Al-Amoudi (15% shareholding) and Abdullah Ahmed Bugshan (15% shareholding). Five minority shareholders own the balance of 40%.
Published under Cement News
