Alcoa and Ma'aden Continue Developing Capabilities of Ras al Khair Complex in Saudi Arabia: Underline Commitment to Develop Downstream Sectors

Alcoa AA and Ma'aden today announced commencement of work to extend the product mix of their aluminum complex currently under construction at Ras Al Khair, Saudi Arabia. This latest milestone will enable the two companies to include capability for producing about 100,000 metric tons of a wide range of products suitable for further downstream manufacturing in the complex's product lines. They include automotive heat-treated and non-heat-treated sheet, building and construction sheet and foil stock sheet. Depending on demand, the line will start production at the end of 2014. A contract for Engineering, Procurement, and Construction Management has been awarded to Fluor. An award has also been released to SMS Siemag for supply of the mill equipment and heat treatment line equipment. The contracts were signed today at a ceremony in Jubail attended by His Excellency the Minister of Petroleum and Mineral Resources Ali Al Naimi and the Chairman of the Royal Commission for Jubail and Yanbu, His Highness Prince Saud Althunayan. “This step will place Saudi Arabia among the world's foremost aluminum producers by combining the highest standards of quality with the exceptional cost competitiveness of this world-class project,” said Khalid Mudaifer, Ma'aden's President and CEO. “These new capabilities will help establish downstream industries in Saudi Arabia using aluminum that has been mined, refined, smelted and rolled in the Kingdom. It is also fully compatible with the national strategy of developing national resources to create sustainable wealth and employment for Saudis, as well as enabling the replacement of a wide range of imports with cost–effective, high-quality domestic products, and encouraging the expansion of the national industrial base. Many future generations of our citizens will be able to trace their long and successful career paths in business and industry to the decisions we are making here today.”