http://www.english.hadhramaut.info emeni and Gulf Investors Build Iron Factory [The Source: www.yemenpost.net - 7/8/2008] A coalition of Yemeni and Gulf investors will build the first iron factory in Hadramout's Al-Mukalla City as it seeks to cover for part of the increasing local demands for steel and iron. Chairman of Bagarsh group Omar Bagarsh pointed out that having partnerships with Gulf investors has allowed them to expand the project whose total costs could reach $120 million. Gulf investors now own 50 percent of the factory's shares, while Bagarsh Company and other Yemeni partner own the rest. Bagarsh noted the project stretches over 300,000 m2 and its production capacity could reach 300,000 tons per year. The factory is to produce iron meant for building and other uses. It will also employ 3,000 people.