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Alcoa Inc Joint Venture Signs Alumina Refinery Construction Agreement With Hyundai Engineering & Construction Co Ltd
Saudi Arabian Mining Co (Ma'aden) announced that, Ma'aden Bauxite and Alumina Company, which is 74.9% owned by the Company, and 25.1% owned by Alcoa Inc, has signed a Letter of Intent to award to Hyundai Engineering & Construction Co Ltd the construction of new Alumina Refinery, including completing detailed Engineering, Procurement, Construction, Pre-commissioning, Commissioning Assistance, Startup Assistance and Training. The Contract duration will be 29 months from the signing date. The contract total value is SAR 5,632 Million (USD 1,502 Million).
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