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FINANCIAL NEWS
Saudi Maaden approves $4.5b financing arrangement
30 Jun 2010
(MENAFN) A statement released by the Saudi Arabian Mining Co (Maaden) said that the company?s board had agreed on a $4.5 billion financing plan for the first phase of a joint aluminum plant with US firm Alcoa, Reuters reported.
According to the statement, the financing will be provided by a group of local and foreign banks, as well as Saudi Arabia?s Public Investment Fund and the Industrial Investment Fund.
The joint venture started work on the $10 billion complex, which it said will be the world?s largest fully integrated aluminum complex, earlier this month.
The complex will include a bauxite mine and an alumina refinery, aluminum smelter and rolling mill at Ras Al-Zour.
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BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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