Yemeni steelmaker Star Company is seeking a possible new investor after its Chinese partner announced it intends to sell its shareholding.

The works has a plasma furnace-based billet plant with annual capacity 43,000 tons and a 60,000 tpy rebar mill.

The firm had planned to increase capacity to 150,000 tpy in a second expansion phase and then to 240,000-300,000 tpy in the third phase. However, the Chinese partner has called off the business as saying management issues.

Currently, the company’s main owner is trying to find out the possible new investors experienced in steelmaking area.

Yemen’s rebar producers include Aden Steel and Arab Iron & Steel Corporation, with a combined capacity of 450,000 tpy, and Mukalla Iron & Steel contributes 350,000 tpy.