Saudi Maaden gets 4 bids to build alumina plant

16/12/2009 00:00 AST

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
SAGRINSURANCE 30.54 437,874
ZAIN 365 788,638
SABIC 90.14 4,984,283
ALMARAI 80.75 297,705
RIBL 12.45 380,217
STC 67.16 225,823
EEC 31.59 2,648,558
Recent News

GFH backs Islamic banking forum
GFH Financial Group (GFH) announced its platinum and mobile app sponsorship of the 22nd Annual World Islamic Banking Conference (WIBC 2015).

It will be held in Bahrain under the patronage

Latest cloud services in spotlight at conference
Batelco and Cisco jointly conducted a conference focused on the business sector.

The Simplify with Cloud Conference was held at the Ritz-Carlton Bahrain, Hotel and Spa with a number of Bat

Bank Muscat Open Day at Al Mouj from Dec 3-5
Bank Muscat, the flagship financial services provider in the Sultanate, is offering a never-to-be-missed opportunity for citizens and residents to avail exclusive personal finance offerings in the co

C’wealth sets up $1 bn green fund
Maltese Prime Minister Joseph Muscat unveiled a new $1 billion Commonwealth Green Finance Facility to support environmental projects within the 53-nation bloc as the race against climate change inten

Omagine in talks for funding Phase 1 $2.5bn realty project
Omagine LLC, which has signed a deal with the Omani government to develop a mixed use tourism and real estate project in Muscat Governorate, says it is currently in discussion with a Qatari bank for

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


Looking ahead, what change you are more likely to make in investing in your domestic stock market?