Saudi Maaden gets 4 bids to build alumina plant

16/12/2009 00:00 AST  Reuters

Saudi Arabian Mining Co (Maaden) has received four bids for a $1 billion contract to build an alumina refinery it has recently retendered, industry sources said on Wednesday.

Maaden retendered after increasing the planned size of the plant to 1.8 million tonnes per year from 1.6 million tpy, they said.

There were scope changes, new technology, they decided to retender to get better bids, an industry source said.

US Fluor Corp teamed up with Worley Parsons and Canadas SNC-Lavalin Group Inc joined forces with Hatch to submit their proposals, they said. Frances Technip and US Bechtel bid individually.

The due date for bids was December 12, two bidders said.

Maaden aims to award the engineering, procurement, construction management (EPCM) contract by the end of March, two bidders said.

The refinery would be fully operational in the first quarter of 2014, they said.

Rio Tinto said last year it dropped plans to take a 49 per cent stake in the smelter because of the global financial crisis. This has delayed the start-up date by three years.

It initially teamed up with Maaden in 2007 to build the project, which includes a 740,000 tpy aluminium smelter. The refinery would feed the smelter at Ras Azzour and the whole project was expected to cost around $8 billion.

Worley Parsons conducted the front-end engineering and design work (Feed) at the refinery.

Before retendering, Maaden had awarded the EPCM contract to Fluor Corp in late 2008 and valued it at around $1 billion, London-based MEED magazine reported last week.

Saudi Arabian Mining Co. - MAADEN
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
EEC 38.5 1,164,798
AMANAINSURANCE 15.81 5,672,412
EMAAR 7.04 15,299,737
SABIC 78.98 4,492,273
ALKHODARI 30.27 1,801,044
SAGRINSURANCE 29.51 2,523,838
Recent News

Kuwait's trade surplus with Japan narrows for second month
Kuwait's trade surplus with Japan narrowed 21.7 percent in December to JPY 84.1 billion (USD 713 million) from a year earlier, shrinking for the second month as exports fell, the Finance Ministry sai

Kuwait projects $24 bn deficit
Kuwait yesterday projected a $24 billion deficit in its new fiscal year budget despite a massive spending cut to cope with plunging oil prices.

Revenues for 2015-2016 are projected at $41.

BisB extends Visa partnership
Bahrain Islamic Bank (BisB) has signed a strategic agreement with Visa, a global leader in electronic payments, to further enhance the bank's partnership with it for another five years.


Ithmaar website bags awards
Ithmaar Bank, a Bahrain-based Islamic retail bank, has won two international awards for its website.

In a statement, the bank said its website won two silver awards at the W3 Awards - the

Alba wins award for focus on sustainability
Alba has announced it won "The Green Era Award for 2015" for its "outstanding sustainable practices and environmental achievements".

The award is given by the French Otherways Association

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend


Which of the following do you think is the best long-term investment?