FIRST SAUDI CEMENT FACTORY TO BE OPENED IN HADRAMOUT

SANA’A, April 07 (Saba)- Saudi investors will open Wednesday a US$ 260 million cement factory with a cement production capacity of 1.5 million tonnes per annum in the eastern part of Yemen.

The cement factory, owned by the 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 other Asian countries.

Speaking to Saba, businessman Abdullah Bugshan said that the opening ceremony, which will be under the patronage of President Ali Abdullah Saleh, will be attended by Saudi Minister of Trade and Industry Abdullah bin Ahmad Zainal and more than 200 Saudi and Yemeni characters.

Bugshan indicated that the Saudi businessmen participating in the opening will review a number of new investment opportunities available in Yemen.

He pointed out that the cement factory will not be the only project implemented by Saudi investors in Yemen, stressing that the support that Saudi investors receiving from President Saleh had given them an incentive strong to invest in Yemen.

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%.

The factory covers 22 square kilometers, and will produce Portland cement, anti-salts and sulfate cement, based on global specifications.

YA