International lenders did not disclose specificities, but said it was part of global cost-cutting plansNovember 26, 2015 11:32
Saudi Maaden-Alcoa Aluminium JV to add production line
Saudi Arabian Mining Co (Maaden) plans to add a new production line at its aluminium joint venture with U.S firm Alcoa to produce sheets used in the automotive and construction industries, the firm said on Monday.
March 6, 2012 11:05 by Reuters
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 Aluminium complex is owned 74.9 percent by Maaden, and 25.1 percent by Alcoa. (Reporting by Asma Alsharif; Editing by Firouz Sedarat)