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US-SABC reports the Saudi Arabian Mining Company (Ma’aden) and U.S. company Alcoa Inc. (NYSE:AA) have signed a letter of intent with South Korean company Samsung Engineering to build part of Ma’aden and Alcoa’s aluminum complex in Ras Azzour.
US-SABC reports the Saudi Arabian Mining Company (Ma’aden) and U.S. company Alcoa Inc. (NYSE:AA) have signed a letter of intent with South Korean company Samsung Engineering to build part of Ma’aden and Alcoa’s aluminum complex in Ras Azzour.
The market news is quoted as saying:
The agreement, valued at $590 million (SR2.21 billion), involves the engineering, procurement, and construction of a rolling mill, as well as overseeing a test run of the plant.
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