Iron and steel factory to be established [Archives:2004/798/Local News]

December 13 2004

Aden Bureau
The Governor of Aden Gov., Acting Deputy Chairman of the General Free Zones Authority, Chairman of Aden Free Zone, Dr. Yehia Al-Shuaiby, attended the ceremony held on October 16 at the Aden Chamber for Commerce and Industry on the occasion of announcing the National Iron and Steel Company which is to be established in Aden Free Zone.
The Governor renewed his calling for investors to come to Aden Free Zone which contains opportunities and privileges. He urged all investment-concerned authorities to facilitate the procedures before the investors.
He expressed his happiness at this developmental and economical event, wishing to hear the more of such fruitful developmental initiatives.
The Chairman of Yemen-Bahrain Al- Shamel Bank, Ahmed Bazara'ah indicated in his speech the several characteristics of Aden that entitle it to be the main center of the company and the start of its production there. He pointed out the facilities provided by the Management of Free Zone.
It is worth mentioning that the company is attempting to set up its project which values is $12.5 millions, on an area of 100 thousands square meters with yearly production of 40 thousands tons.
The project is composed of several units producing all types of iron and steel, industrial and medical gases units, equipment and medical instruments units, and workshop for producing lamps (neon tubes).
During phase I of the project, 150 employees will be absorbed, 60 persons of which are foreigners whom will be contracted for one and a half years before being replaced by local and trained employees.
It is anticipated that the project will start its production in August 2005.
The party was attended by leaders of the Chamber of Commerce and Industry and business community.