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FINANCIAL NEWS
Saudi Maaden’s aluminum smelter to start operations in Dec
28 Nov 2012
(MENAFN) Saudi Arabian Mining Company (Maaden) said that its USD10.8-billion aluminum smelter will launch operations next month, reported Gulf Daily News.
Nevertheless, the smelter will not reach full smelting capacity of 740,000 tons per year as its 2,400-megawatt power plant, which was scheduled to start operations in October, will not be ready until late next year.
It added that the suspension of the power project may result in shortage in the supply of electricity needed by the Maaden Aluminum Company at Ras Al Khair.
The project, Saudi first aluminum smelter, is shared between Maaden and US-based Alcoa.
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