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Further to Maadens announcement on Tadawul web site dated 09/06/1431H corresponding to 23/05/2010, Maaden announces that Ma'aden Bauxite and Alumina Company, which is owned by Maaden (74.9%) and Alcoa Company (25.1%), has signed on Sunday 11 Rabi II 1433 corresponding to 04 March 2012 a Letter of Intent to Award to Hyundai Engineering & Construction Co Ltd to build the Alumina Refinery including completing detailed Engineering, Procurement, Construction, Pre-commissioning, Commissioning Assistance, Startup Assistance and Training. The Contract duration will be 29 months from the date of signing it. The contracts total value is SAR 5,632 Million (USD 1,502 Million ) |
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