Saudi firms set to invest $760m in Yemeni cement factories

Three Saudi firms are finalising arrangements to launch three cement factories in Yemen at a total cost of $760 million.

The investments will be commissioned during December 2009 and the first quarter of next year. The plants have been established in the provinces of Hadramout and Abyan, in the south of the country.

One of the plants is to be launched by the Arabian Yemeni Cement Company in Mukalla city in Hadramout this month. It is considered to be the Gulf private sector??s second biggest investment, costing $260 million.

In a statement to SABA, the company said that the plant, which covers 22 square kilometres, will start production by this year, producing 4,000 tons a day. It will create 1,500 jobs for local contract and fixed employees.

From Arabian Business (2009-12-3)