RIYADH: Saudi Arabian Mining Co (Maaden) signed on Dec 20 an agreement with US aluminium giant Alcoa to build a US$10.8 billion (RM37.15 billion) aluminium complex.
Under the agreement, the two firms will build a 1.8 million tonnes per year aluminium refinery and a 740,000 million tonnes per year smelter in Ras Azzour on the kingdom's Gulf coast, Maaden's CEO Abdullah al-Dabbagh told reporters.
The smelter is slated to start production in 2013 while the refinery would come online in 2014, he added. -- Reuters