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Saudi Arabian Mining Co (Maaden) plans to add a new production line at its aluminium joint venture (JV) with Alcoa to produce sheets used in the automotive and construction industries.
Financing for the aluminium complex, which is owned 74.9 per cent by Maaden and 25.1 per cent by Alcoa, will be announced at a later date.
The new line will have a capacity of 100,000 tonnes per year and also produce foil stock sheets when it comes online by the end of 2014, Maaden said in a statement.
Meeting local demand
The announcement to add a new aluminium production line is expected to meet the local demand in the Gulf Cooperation Council (GCC) which is currently met by local rolling mill Garmco, Bahrain, said Frost and Sullivan.
Further, the new line will instigate the development of various downstream industries from the envisaged products of Maaden's new mill line.
Good market in Saudi
According to Frost and Sullivan, notable products that have good market in Saudi are foil, sheet coating, sign boards, slugs, chequered plate, boat and auto sheet body, electronic items and capacitors.