02 SEPTEMBER 2014<a href=http://www.reuters.com/article/2014/09/01/alcoa-maaden-aluminium-idUSL5N0R20LW20140901 ' target='_blank'> Reuters </a>
Saudi Ma'aden, Alcoa start commercial operation at joint aluminium plant
Edited by : AL CIRCLE
1 min read
Saudi Arabian Mining Co (Ma'aden) said on Monday its joint aluminium smelter with U.S.-based Alcoa has started commercial operations.
The $10.8 billion aluminium plant at Ras al-Khair, on the Gulf coast of the kingdom, had experienced issues during the initial start-up phase last year when it had to shut one of its two smelting lines in October due to problems encountered during ramp-up.
The smelter has a production capacity of 740,000 tonnes a year of aluminium, with commercial operations to begin impacting Ma'aden's financials from the third quarter onwards, it said in a bourse filing.
The Saudi project is important to Alcoa, both because of its size and the fact it should be the facility with the lowest production costs in the world - important at a time when the industry pushes to cut expenses.
Alcoa owns 25 percent of the joint venture, with Ma'aden holding the balance.
The $10.8 billion aluminium plant at Ras al-Khair, on the Gulf coast of the kingdom, had experienced issues during the initial start-up phase last year when it had to shut one of its two smelting lines in October due to problems encountered during ramp-up.
The smelter has a production capacity of 740,000 tonnes a year of aluminium, with commercial operations to begin impacting Ma'aden's financials from the third quarter onwards, it said in a bourse filing.
The Saudi project is important to Alcoa, both because of its size and the fact it should be the facility with the lowest production costs in the world - important at a time when the industry pushes to cut expenses.
Alcoa owns 25 percent of the joint venture, with Ma'aden holding the balance.
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