|Ahmed Saleh Al-Essi Chairman
of the Alessi Group
As Yemen pushes
to diversify its economy through free trade
zones and large real estate projects, officials
are also looking at entrepreneurs that have
made it the old fashioned way in traditional
Al-Essi, Chairman of the Alessi Group, is
a prime study in entrepreneurship. Mr. Al-Essi
started his business with one cargo vessel
and has since developed a booming trade.
Group operated as shipping and marine transport
services in the Hodeidah Province until
1995 when Mr. Al-Essi decided to branch
out into new areas under the name of the
Al Essi Corporation Trade & Investment.
Under the new name, Mr. Al-Essi expanded
his operations into new industries. According
to the company, the Alessi Corporation became
one of the pillars of the Yemeni economy.
As the company
moved into new areas, it began to purchase
entire companies. Of the 19 companies operating
under the present day Alessi Group, whose
industries range from shipping to construction
to plastics, perhaps the most well known
is Overseas Shipping. In it Mr. Al-Essi
found his niche market. Overseas Shipping
is the only company in the country that
transports Yemeni crude oil to refineries
and delivers petroleum products to various
for future crude oil transport in Yemen
are very good. Khalid Mahfoud Bahah, Minister
of Oil and Minerals noted that Yemens
oil industry was very young compared to
its neighbors. You could say that
Yemen is still a virgin in the petroleum
sector, he said. He pointed out that
Yemen is trying to discover new oil as well.
We aim to have extensive exploration.
We started 2 years ago and it will continue
for many years.
|A new refinery in the Ras Essa area
will boost profits for local petrol
Growth in the
oil sector is good news to the Alessi Group
because it will entail an increase in transport
revenue, especially thanks to the Yemen
Oil Refinery Companys announcement
that it was building a major new refinery
in the Ras Essa area.
sees a major market in emerging African
economies and has already set up shop. He
stated: Our branch in Addis Ababa,
Ethiopia is able to perform a regional role.
It must be known that the opportunities
in Africa and the Middle East are extensive.