Speaking to Saba, Yemen's ambassador to Kingdom of Saudi Arabia Ali al-Ahwal said that holding YSCC's 19th round this year has great importance for being held after President Saleh's recent visit to the kingdom for enhancing cooperation between the two countries.
He added the YSCC's 19th round would focus on easing industrial and trade activities between the two countries, in addition to enhance cooperation between the two countries in fields of technical education, higher education and health.
YSCC is currently the biggest cement producer in Saudi Arabia as well as in the Gulf Cooperation Council (GCC).
YSCC net profit rose by 22 percent to SR731 million from 2007 as against SR601 million in 2006.
Co Global values YSCC at SR79/share and recommends a BUY on the stock
YSCC net profit from the year 2007 rose by 22% to SR731mn as against SR601mn in 2006.
YSCC has also obtained the approval of SIF for granting an amount of SR103mn as loan that shall be allotted to the works of the 2nd phase of the second power plant.
YSCC owns 11.2mn share in Industrialization and Energy Services Company worth SR112.5mn that is equivalent to 5.625% of the paid up capital.
He affirmed that the YSCC
would end up signing nine cooperation agreements, some of which are for financing projects in areas of education, water and power.