Maaden-Alcoa JV to add production line
Riyadh, March 5, 2012
Saudi Arabian Mining Co (Maaden) plans to add a new production line at its aluminium joint venture with US firm Alcoa to produce sheets used in the automotive and construction industries.
The new line will have a capacity of 100,000 tonnes per year and also produce foil stock sheets when it comes online by the end of 2014, Maaden said in a statement on the Saudi bourse website.
Financing for the project will be announced at a later date. The Aluminium complex is owned 74.9 percent by Maaden, and 25.1 percent by Alcoa. - Reuters
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