Alcoa increasing investment in Saudi project

On Monday, it was reported that Alcoa Inc (AA.N) is increasing its investment in a planned $10.8 billion aluminum complex in Saudi Arabia after some of the U.S. company’s partners in a consortium dropped out.

The press release is quoted as saying:

In a change in the ownership structure, Alcoa will now pay about $1.1 billion over four years, up from the $900 million it had said in December, a filing with the Securities and Exchange Commission shows.

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