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Saudi Maaden signs $10.8 bln deal with US Alcoa
(Reuters) / 20 December 2009
RIYADH - Saudi Arabian Mining Co (Maaden) signed on Sunday an agreement with US aluminium giant Alcoa to build a $10.8 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.
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