SANAA, 13 March 2006 — Saudi investor, Hussein Attas, announced the completion of registering a cement factory in Yemen with a cost of $533 million and a production capacity of three million tons annually, reported Al-Watan. He said that in the next few days there would be an announcement on an international bid to facilitate the factory and implementing a geological and technical study. The factory is located in a city near Aden and will be established in accordance to the latest technical standards.
11 Firms to Get SR170 Million Loans
RIYADH, 13 March 2006 — The Industrial Development Fund (IDF) agreed to give loans to 11 companies to establish new factories and expand and develop production capacity of existing factories, reported Al-Madinah newspaper. Among the companies receiving a loan is Almarai Co. to increase its dairy production capacity. The total loans amount to more than SR170 million whereas the total value of the investments directed toward these factories is around SR500 million.
Red Sea Signs Deal With Dalma Energy
RIYADH, 13 March 2006 — Red Sea has signed a $9 million contract with Dalma Energy to provide remote area housing solutions for a Saudi Aramco project. Dalma Energy’s general manager of operations, Phil Woods, told Arab News that their company, one of the leading land drilling rig operators in the Gulf states, was awarded five new oil rig contracts by Saudi Aramco in September 2005. Red Sea’s scope of work involves setting up of new camp facilities and renovation/refurbishment of existing camp units. (Javid Hassan)