Start mill construction in Saudi Arabia

Aluminum-maker Alcoa Inc. and its partner, Ma’aden, a Saudi Arabian mining company, have begun construction on a joint venture rolling mill in Ras Az Zawr, Saudi Arabia, the companies said today. The rolling mill is part of a larger, $10.8 billion joint venture project that includes a bauxite mine, an alumina refinery and an aluminum smelter on Saudi Arabia’s eastern coast. When the project was announced in December 2009, Alcoa said it expected to spend $900 million on the project over four years. Alcoa owns 25.1 percent of the venture but has the right to expand that to 40 percent.

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