Ma’aden and Alcoa Mark Double Project Milestones

Senior executives from Ma’aden and Alcoa today joined project teams at Ras Al Khair in Saudi Arabia to commemorate two major landmarks in the construction of their $10.8 billion integrated aluminum joint venture.

The day’s initial ceremony took place as the team poured first concrete for the project’s state-of-the-art-rolling mill. With an initial capacity of 380,000 tons per year, the rolling mill will be one of the most technically advanced in the world and the only one in the Gulf region capable of producing food grade can sheet which has many applications including the manufacture of beverage cans.

The second landmark ceremony saw the official ground breaking for the project’s alumina refinery which will have an initial capacity of 1.8 million metric tons per year. The Ma’aden Alcoa joint venture will be the region’s only aluminum operation with a captive supply of alumina. The bauxite that will be refined into alumina will be transported by rail from the project’s 4-million-ton-per-year mine at Al Ba’aitha.

“To reach two such major landmarks in one day illustrates the focused and collaborative approach of the project team and we all congratulate them on this noteworthy achievement,” commented Engr. Khalid Al Mudaifer, Ma’aden’s President and CEO.

“When operational, as well as creating excellent shareholder value, this project will create a platform for numerous new industries in the Kingdom, creating tens of thousands of employment opportunities over and above those in the operations themselves.” commented by Engr. Abdullah Busfar, Ma’aden Vice President & Board Chairman of Ma’aden Aluminium Company after the ceremonies at Ras Al Khair.

“These are significant milestones in the development of the first fully integrated aluminum complex,” said Ken Wisnoski, president of Alcoa’s Global Primary Products Growth business. “These achievements represent the disciplined execution of our project schedule and budget.”

The project’s rolling mill and smelter constitute the first phase of the project, due to become operational in 2013 while the mine and refinery as the second phase will come on stream in 2014. The interim supply of alumina will be furnished by Alcoa.