Yamama Cement books SAR 15 mln provisions for Yemen plant

Yamama Cement Co. said it received SAR 15 million impairment provisions for its Yemeni investment Batis Cement Company, increasing its total provisions to SAR 45 million.

In 2010, Yamama acquired 20 percent of Yemeni-Saudi Cement Co. (YSCC) for SAR 75 million. Trial operations at this plant, expected to launch in 2011, were hindered by ongoing political unrest in the Yemeni Republic. 

YSCC is located near Aden, Yemen’s seaport city. The plant has an annual capacity of 1.4 million tons of cement per year.