Sep 06 2005 |
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Yemeni-Saudi Investors to Establish a $260 Million Cement Factory
Beirut (APD) - The Arab-Yemeni Cement Company owned by Saudi and Yemeni investors and headquartered in Yemen intends to establish a cement plant in Yemen at a cost of $260 million and with an annual production capacity of 1.2 million. The new factory would provide around 500 job opportunities, the Bahrain-based Al Wasat daily reported Monday.This project is one of three newly-licensed ventures jointly financed by Saudi and Yemeni investors to establish cement factories in Yemen with a combined annual production capacity of 3 million tons.
"The plant will produce clinker and other types of cement," Abdullah Baqshan chairman of the Arab-Yemeni Cement Company said in a statement. "We have received bids from German, Chinese, Indian and Canadian firms for the construction of this plant. Other companies made offers to supply mechanical, electrical and control equipment. Bids were made as well for the construction of a 45-megawatt power station specifically for the plant," Baqshan added.
Three government-owned cement factories operate now in Yemen under the supervision of Yemen Corporation for Cement Industry and Marketing . These factories have a combined production capacity of 1.8 million tons per year. This supply satisfies only 45% of the total national demand for cement which ranges from 3.5 million tons per year to 4 million tons.
By Shikrallah Nakhoul
© APD (Arab Press Digest) 2005
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