| Country |
: |
Saudi Arabia |
| Project Value |
: |
USD 350,000,000 Estimated |
| Sector |
: |
Industry | Aluminium |
|
PMC |
: |
Fluor Arabia Limited
|
|
Contractors |
: |
Bechtel Corporation
(EPCM) |
Samsung Saudi Arabia Company Limited
(EPC) |
| Profile Type |
: |
Contract Project
|
| Associated Projects |
: |
Contract (10) |
|
Phase:
EPC - Execution
|
|
Completion: Q1 2013
|
|
|
|
| Background |
Maaden Aluminium CompanyMaaden Aluminium Company plans to build a cast house as part of the Aluminum Smelter, located in the Minerals Industrial City at Ras Al Zour on the east coast of Saudi Arabia.
Feedstock for the smelter will be sourced from international markets till the refinery project comes on stream.
Fluor ArabiaFluor Arabia is the overall PMC. |
| Expected Events |
| Schedule |
Contract Phase/Phase |
Description |
| Q1 2013 |
Completion | Project expected to be completed
|
|
| Latest Events |
In May 2012, construction of the cast house was ongoing.
In Q1 2013, the project is expected to be completed. |
| Previous Events |
In September 2011, construction of the cast house started.
In May 2011, engineering works started.
In March 2011, the EPC contract was awarded to Samsung Engineering CompanySamsung Engineering Company.
In November 2010, bidders submitted their proposals for the EPC contract.
In August 2010, the ITB for the EPC contract was issued.
In October 2008, the EPCM contract was awarded to BechtelBechtel. |
| Scope of Work |
Construction of a cast house with all associated facilities. |
| Financing Source |
Riyad BankRiyad Bank and Standard Chartered BankStandard Chartered Bank are the Financial Advisers.
In December 2010, MaadenMaaden signed USD 2.1 billion of financing contracts with the Public Investment Fund (PIF). A loan of USD 1.3 billion was granted to the aluminum smelter.
On 30 November 2010, MaadenMaaden signed documentation for the financing of the smelter and rolling mill. The USD 1.9 billion deal was signed with local and international banks. The local banks include the National Commercial BankNational Commercial Bank, Riyad BankRiyad Bank, Samba,Samba, Banque Saudi FransiBanque Saudi Fransi, Alinma bank,Alinma bank, Saudi Hollandi bankSaudi Hollandi bank, Al-Rajhi Bank,Al-Rajhi Bank, SabbSabb, ApicorpApicorp and Arab National Bank.Arab National Bank. The international banks include: Export Development Canada (EDC), NBD, BNP ParibasBNP Paribas and Standard CharteredStandard Chartered.
In October 2010, the selected banking group consisting of 15 banks were in documentation stage. Banque Saudi FransiBanque Saudi Fransi was appointed as the documentation bank for the smelter financing.
In August 2010, MaadenMaaden met with the lenders to work on the documentation for the financing.
7 June 2010, was the deadline for banks to respond. MaadenMaaden received some earlier responses.
On 1 May 2010, MaadenMaaden issued the RFP for the financing of the project.
In January 2010, export credit agencies were approached. The tenor on the debt will be over 15 years. |
| Contract Packages |
| Type |
Project Name |
Contract Value |
 |
MAC - Ras Al Zour Aluminum Complex |
USD 10,800,000,000 |
|
MAC - Ras Al Zour Aluminum Complex - Aluminum Smelter |
USD 5,000,000,000 |
|
MAC - Ras Al Zour Aluminum Complex - Aluminum Smelter - Materials Handling Facilities |
USD 100,000,000 |
|
MAC - Ras Al Zour Aluminum Complex - Alumina Refinery |
USD 2,000,000,000 |
|
MAC - Ras Al Zour Aluminum Complex - Alumina Refinery - Integrated Digestion and Evaporation Facility |
USD 65,000,000 |
|
MAC - Ras Al Zour Aluminum Complex - Alumina Refinery - Steam Host Facility |
USD 100,000,000 |
|
MAC - Ras Al Zour Aluminum Complex - Aluminum Calciners |
USD 89,000,000 |
|
MAC - Ras Al Zour Aluminum Complex - Aluminum Refinery - Steel Storage Tanks |
USD 60,000,000 |
|
MAC - Ras Al Zour Aluminum Complex - Aluminum Smelter - Potlines (Phase 1) |
- |
|
MAC - Ras Al Zour Aluminum Complex - Aluminum Smelter -Tank Farm |
USD 200,000,000 |
|
MAC - Ras Al Zour Aluminum Complex - Rolling Mill |
USD 2,500,000,000 |
|
|
| Schedule | Contract Phase/Phase | Description |
| Oct 2008 |
EPCM | Contract awarded to BechtelBechtel
|
| Aug 2010 |
EPC | ITB issued
|
| Nov 2010 |
EPC | Bidders submitted their proposals
|
| Mar 2011 |
EPC | Contract awarded to Samsung Engineering CompanySamsung Engineering Company
|
| May 2011 |
EPC | Engineering works started
|
| Sep 2011 |
EPC | Construction of the cast house started
|
| Q1 2013 |
Completion | Project expected to be completed
|
|
|
Key:
Master Project
Package Project
Contract Project
|
|
 |
- SEARCH MIDDLE EAST PROJECTS
|
Talk To Zawya Analyst
Download to PDF