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
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT
Most Viewed Companies
Ticker Price Volume
EMAAR 11.7 18,297,984
RIBL 20.16 2,477,746
SABIC 114.61 6,595,754
SPIMACO 46.87 1,197,214
WALAA 29.43 1,110,002
ALKHODARI 61.63 1,348,839
EEC 85.58 1,892,032
Recent News

Salam International announes 3rd Q 2014
Salam International disclosed the interim financial statements for the period ending September 30, 2014. The interim financial statements revealed a net profit of QR 67.2 million for the nine months

Australia Inflation Adds 2.3% On Year In Q3
Consumer prices in Australia advanced 2.3 percent on year in the third quarter of 2014, the Australian Bureau of Statistics said on Wednesday.

That was in line with expectations and down

China's third-quarter growth touches 5-year low
CHINA'S third-quarter economic growth ground to its slowest pace in five years as the country continues to struggle with a downturn in the property sector, overcapacity and weak export demand. Analys

Dollar/Saudi riyal forwards jump as spot market pressured
DUBAI: The Saudi riyal fell sharply against the U.S. dollar in the forwards market on Tuesday to its lowest level since March 2011, when the Arab Spring uprisings briefly shook confidence in the poli

WTI Holds Above $82 as Fuel Supply Seen Falling; Brent Steady
West Texas Intermediate crude held above $82 a barrel before a report that may show motor-fuel inventories shrank to a two-year low in the U.S., the biggest oil consumer. Brent was steady in London.<

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

Poll

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