
Saudi Arabian Mining Co. (Maaden) said yesterday it had signed financing agreements worth $ 320 million with a Saudi government fund to develop the first phase of an aluminum project in the Kingdom with Alcoa. Saudi Industrial Development Fund, a government institution, has agreed to lend Maaden two loans, each worth $ 160 million, the mining company said. The first loan is to its subsidiary Maaden Aluminium Co. and the second to Maaden Rolling Mill Co, which is a joint venture with Alcoa in which the international aluminum refiner holds a 25.1 percent stake. The loans are to be repaid over six years in twice yearly installments, with repayments starting for the first in February 2015, and for the second in January 2016, Maaden said. The company added, in a statement posted on the website of the Saudi bourse, that the agreements completed financing requirements for the project. From arabnews
GMT 17:56 2018 Wednesday ,17 January
Ericsson to write down 1.4 billion euros in fourth quarterGMT 19:16 2018 Saturday ,13 January
China shuts Marriott website over Tibet error, scolds other firmsGMT 17:31 2018 Thursday ,11 January
UK group bids for Europe's biggest aluminium smelterGMT 17:24 2018 Thursday ,11 January
UK supermarket Sainsbury's lifts outlook after bumper ChristmasGMT 17:52 2018 Tuesday ,09 January
H&M removes 'black boy' ad after racism accusationGMT 19:38 2018 Wednesday ,03 January
Petrobras pay $2.95bn to settle US class action on corruptionGMT 13:49 2018 Wednesday ,03 January
China’s Ant Financial drops $1.2 billion MoneyGram deal as US approval failsGMT 17:47 2017 Sunday ,31 December
BA owner to buy bankrupt Austrian airline Niki
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor