Maaden JV to Add production line
Jeddah - SPA
Saudi Arabian Mining Co. (Maaden) plans to add a new production line at its aluminum joint venture with US firm Alcoa to produce sheets used in the automotive and construction industries, the firm said. The new line will have a capacity of 100,000 tons per year and also produce foil stock sheets when it comes online by the end of 2014, Maaden said in a statement on the Saudi bourse website. Financing for the project will be announced at a later date. The aluminum complex is owned 74.9 percent by Maaden, and 25.1 percent by Alcoa.
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