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Baker and McKenzie advises Saudi Arabian Mining Company and Alcoa on alumina refinery in Kingdom of Saudi Arabia
Edited by : AL CIRCLE
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Baker and McKenzie has advised Saudi Arabian Mining Company (Ma'aden) and Alcoa on their alumina refinery located at Ras Al Khair in the Kingdom of Saudi Arabia.
The mine and refinery project is phase 2 of the integrated Ma'aden aluminium complex project. The finance documents for phase 1 of the integrated Ma'aden aluminium complex were signed on 30 November 2010. Phase 1 consisted of the financing of an aluminium smelter and rolling mill located at Ras Al Khair in the Kingdom of Saudi Arabia with a project cost of approximately $7.215bn.
The mine and refinery project, which includes the aluminium smelter and rolling mill at a total project investment of $10.8bn, is a joint venture between Ma'aden and Alcoa and the financing of the project includes $2.151bn financing comprising conventional and istisna'a and ijara based facilities to be provided by 13 regional and international banks together with facilities to be entered into with the Public Investment Fund and the Saudi Industrial Development Fund.
The mine and refinery project is phase 2 of the integrated Ma'aden aluminium complex project. The finance documents for phase 1 of the integrated Ma'aden aluminium complex were signed on 30 November 2010. Phase 1 consisted of the financing of an aluminium smelter and rolling mill located at Ras Al Khair in the Kingdom of Saudi Arabia with a project cost of approximately $7.215bn.
The mine and refinery project, which includes the aluminium smelter and rolling mill at a total project investment of $10.8bn, is a joint venture between Ma'aden and Alcoa and the financing of the project includes $2.151bn financing comprising conventional and istisna'a and ijara based facilities to be provided by 13 regional and international banks together with facilities to be entered into with the Public Investment Fund and the Saudi Industrial Development Fund.
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