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.


Reuters

Ma’aden Agrees Phosphate Fertilizer Supply Contract to Bangladesh

22/10/2017

The Saudi Arabian Mining Company (Ma’aden) signed a Phosphate fertilizer supply contract with Bangladesh Agricultural Development Corporation (BADC). The contract stipulates that Ma’aden will supply

Press Release

Maaden invites shareholder to attend General Assembly Meeting

10/10/2017

The Board of Directors of Maaden is pleased to invite its shareholders to attend the 10th General Assembly Meeting to be held at the Company Headquarter in Riyadh, Abu Baker Al Sadeeq Road, south of

Maade

PhosAgro and Ma’aden Sign Landmark Memorandum of Understanding

06/10/2017

PhosAgro and the Saudi Arabian Mining Company Ma’aden signed a landmark memorandum of understanding (MOU) on Thursday that will provide new impetus to the development of the global phosphate-based fe

Press Release

Ticker Price Volume
QNBK 122.40 34,875
BURUJ 32.21 213,072
SABIC 98.22 2,108,214
CHUBB 28.70 160,783
TAWUNIYA 93.63 287,882
ALOLA 46.30 128,800
WALAA 27.99 80,491
MAADEN Sector Market
P/E
Price/BookValue
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
SABIC 98.22 -0.14 (-0.15%)
YANSAB 54.41 -0.40 (-0.73%)
SAFCO 60.14 -0.35 (-0.58%)
KAYAN 8.96 -0.17 (-1.87%)
NIC 15.27 0.04 (0.26%)
Al Salam Bank-Bahrain and AFS Sign partnership agreement

23/10/2017

AFS, the region’s leading FinTech enabler, and payment services provider, and Al Salam Bank-Bahrain, one of the pioneering Shari’a-compliant banks in the Kingdom, signed an MOU to roll out a Digital

Press Release

How Saudi Arabia Is Building Its $2 Trillion Fund

23/10/2017

Saudi Arabia is stepping up plans to turn its sovereign wealth fund into a global giant. This week, it’s holding a coming-out party of sorts for the Public Investment Fund, which is central to the go

Bloomberg

Oman Arab Bank opens Qurum branch

23/10/2017

Oman Arab Bank (OAB) has officially opened their new flagship branch located in Qurum. The new branch relocated from its previous location in the Al Araimi complex to a more prominent and easily acce

Times of Oman

Bank Muscat's Izdihar Real Estate Fund acquires prime property in Bura

23/10/2017

Izdihar Real Estate Fund (Izdihar), managed by Bank Muscat, has announced the acquisition of a prime property in the Wilayat of Buraimi. The Buraimi Mall is the only mall of its kind in Buraimi offe

Times of Oman

Nakilat records QR607m profit for first 9 months

23/10/2017

Nakilat recorded a net profit of QR607m for the first nine months of the year, compared to QR749m reported a year ago.

The lower profit was mainly attributed to the effect of changing the es

The Peninsula