Ma'aden JV starts work on aluminium plant
Riyadh, June 19, 2010
The $10-billion joint venture of state-controlled Saudi Arabian Mining Co (Ma'aden) and US-based Alcoa has started work on a plant that would be the world's largest fully integrated aluminium complex, Ma'aden said on Saturday.
The Maaden-Alcoa joint venture will start by developing a fully integrated industrial complex, consisting of a bauxite mine at Ba'aitha and an alumina refinery, aluminum smelter and rolling mill at Ras Al-Zour, it said in a statement.
'Groundbreaking has now officially begun to pave the way for construction of the smelter and rolling mill that will serve the packaging and other industries'.
The plant aims to become the world's 'lowest-cost supplier of primary aluminum, alumina and aluminum products', Ma'aden said.
It will also be the Middle East's first food-grade can sheet rolling mill, Ken Wisnoski, a senior Alcoa executive, said in the statement.
The smelter and rolling mill is to begin operations in 2013 with the mine and refinery expected to come onstream in 2014, it added. – Reuters