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FINANCIAL NEWS
Maaden awards $453m contracts for aluminum projects
24 May 2010
(MENAFN) A statement issued by Maaden said that the state-controlled company has awarded contracts worth $453 million for its planned Saudi-based aluminum joint-venture with Alcoa, Reuters reported.
Maaden, also known as the Saudi Arabian Mining Company, said that a $202 million contract has been granted to US-based Fluor Corp and WorleyParsons for the supervision, engineering and procurements of the complex’s alumina refinery. This project is scheduled to be completed by December 2014.
The statement also said that Fluor Corp won another $177 million for engineering works, procurements and supervision of the construction of the complex’s rolling mill before the end of 2013.
The Saudi affiliate of Fluor Corp, Fluor Arabia, won a $74 million contract for management of services at the complex and engineering works and supervision of infrastructure at the site, the statement said.
Earlier this month, Maaden awarded Swiss-based ABB, US-based Fluor Corp and WorleyParsons the first contracts for its $10.8 billion aluminum joint-venture. But Maaden did not disclose the value of another contract it awarded to Swiss-based ABB to deliver electric power to the aluminum smelter.
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