Saudi Arabian Mining Company (Maaden) has said its subsidiary, Maaden Bauxite and Alumina Company, has signed a financing agreement with Saudi Industrial Development Fund (SIDF) for the second phase of its aluminium project.
The capital of Saudi Industrial Development Fund (SIDF) has been doubled to SR40 billion ($10.7 billion) by King Abdullah in an effort to develop the industrial sector, its chairman Abdul Rahman Al-Humaidi was quoted as saying.
"The fund s
Newly-formed Sulb National Co will start before the end of next year a 300,000 tonnes steel billet plant that would cover 20 percent of Saudi Arabia's deficit in the product, its top executive said.
Sulb expects a government stimulus p