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Saudi Maaden-Alcoa Aluminum JV to Add Production Line
Edited by : AL CIRCLE
1 min read
Saudi Arabian Mining Co (Maaden) plans to add a new production line at its aluminum joint venture with U.S firm Alcoa to produce sheets used in the automotive and construction industries, the firm said on Monday.
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 Aluminum complex is owned 74.9 percent by Maaden, and 25.1 percent by Alcoa.
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 Aluminum complex is owned 74.9 percent by Maaden, and 25.1 percent by Alcoa.
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