Eastern Province Cement: Hadramout Cement operates normally

Eastern Province Cement said that the deteriorating political and security situation in Yemen caused a limited cut in the raw materials and fuel supply for its affiliate, Arabian Yemen Cement Company (Hadramout Cement), which negatively affected clinker’s production.
 

The plant is now operating normally; the company said in a filing to Tadawul today adding that Hadramout Cement has enough clinker stock which helped the cement sales to continue regularly.

The limited cut in the raw materials and fuel supply will affect Eastern Province Cement’s share of Hadramout Cement’s results by about SAR 8m.
 

According to Argaam; The Arabian Yemen Cement Company (Hadramout Cement), which is 31.6% owned by Eastern province Cement Company, decided to shut down its plant and give the workers unpaid vacation because of the deteriorated security situation in Yemen.

The decision was made after the plant was besieged by armed groups cutting raw materials and fuel supplies of the company; according to some sources.

Hadramout Cement’s capital is US$ 142.5m.