| Country |
: |
Saudi Arabia |
| Project Value |
: |
USD 5,000,000,000 Estimated |
| Sector |
: |
Industry | Aluminium |
|
PMC |
: |
Fluor Arabia Limited
|
|
Contractors |
: |
Bechtel Corporation
(EPCM) |
Abdullah Abdul Mohsin Al Khodari Sons Company
(Construction- Cathode Sealing and Storage Buildings) |
Mohammad Al Mojil Group
(Mechanical and Electrical Works) |
ABB Electrical Industries Company
(Electrical works) |
| Profile Type |
: |
Contract Project
|
| Associated Projects |
: |
Contract (10) |
|
Phase:
EPC - Execution
|
|
Completion: Q1 2013
|
|
|
|
| Background |
Maaden Aluminium CompanyMaaden Aluminium Company plans to build an Aluminum Smelter as part of phase 1 of the Aluminum Complex, 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 March 2012, construction of the aluminum smelter was in progress.
In Q1 2013, the project is expected to be completed. |
| Previous Events |
In March 2011, construction of the cathode sealing, anode pallet storage buildings and of the aluminum smelter was ongoing.
In January 2011, construction of the cathode sealing and anode pallet storage buildings at the smelter started.
In December 2010, the construction contract to build cathode sealing and anode pallet storage buildings at the smelter was awarded to Abdullah A. M. Al-Khodari Sons CompanyAbdullah A. M. Al-Khodari Sons Company.
In November 2010, construction of the aluminum smelter was ongoing.
On 25 October 2010, MaadenMaaden announced that the first concrete was laid for the aluminum smelter.
In end of October 2010, Mohammad Al Mojil Group CompanyMohammad Al Mojil Group Company signed a sub-contract with BSE 2000, subsidiary of Five Solios Company.
In Beginning of October 2010, the mechanical and electrical works contract, as well as the supply of materials required for melting aluminum was awarded to Mohammad Al Mojil Group CompanyMohammad Al Mojil Group Company.
In July 2010, BechtelBechtel started construction works at the smelter.
On 2 May 2010, the electric power contract for the smelter was awarded to ABB.
On 20 December 2009, the joint venture agreement was signed between MaadenMaaden and Alcoa to develop the complex.
In April 2009, BechtelBechtel was reviewing the project cost following the drop in the EPC prices.
In March 2009, MaadenMaaden announced the signing of a technology transfer agreement with Aluminum Pechiney and a cooperation agreement with Rio tinto Alcan. Pechiney will provide its AP37/39 smelter technology and Rio Tinto Alcan will provide various types of support.
In January 2009, MaadenMaaden decided to delay the start of production at the complex by two to three years due to the financial crisis and the withdrawal of Rio Tinto from the project.
In December 2008, Rio Tinto decided to withdraw from the shareholder agreement due to the global financial crisis. Rio Tinto would remain involved in the project through a technical cooperation agreement. MaadenMaaden was reviewing downwards the project's financing and subsequent size and scope.
In November 2008, MaadenMaaden and Rio Tinto Alcan were reviewing the aluminum project in the wake of the financial crisis.
In October 2008, the EPCM contract for the smelter was awarded to BechtelBechtel. |
| Scope of Work |
Construction of a 740,000 t/y aluminum smelter including:
- Two AP 36 potlines
- Carbon plant
- Casting plant for solidifying molten metal
- Material handling, and support facilities
- Infrastructure: air compressors, security, admin buildings, sewage treatment, road
- Paste plant
- Alumina silos
- Rodding shop
- Administration building
- Warehouse and Maintenance shop
- Baking furnaces
- Two 2.4 km potlines
BechtelBechtel -EPCM - Scope of work:
- All the engineering
- Provides procurement & contract management
- Manages quality
- Provides planning services
- Manages all construction work
- Reports on progress and costs
- Assists in startup and commissioning |
| 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)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 Bank,National Commercial Bank, Riyad BankRiyad Bank, SambaSamba, Banque Saudi Fransi,Banque Saudi Fransi, Alinma bank,Alinma bank, Saudi Hollandi bankSaudi Hollandi bank, Al-Rajhi BankAl-Rajhi Bank, Sabb,Sabb, ApicorpApicorp and Arab National BankArab National Bank. The international banks include: Export Development Canada (EDC), NBDNBD, 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 - 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 - Cast House |
USD 350,000,000 |
|
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 |
|
| Project News |
|
|
| Schedule | Contract Phase/Phase | Description |
| Dec 2008 |
BOO | Rio Tinto decided to withdraw from the shareholder agreement
|
| Mar 2009 |
Supply & Installation | MaadenMaaden announced the signing of a technology transfer agreement with Aluminium Pechiney and a cooperation agreement with Rio tinto Alcan
|
| 20 Dec 2009 |
Planning | MaadenMaaden and Alcoa signed a contract to create a JV to develop the project
|
| Jul 2010 |
Construction | Construction of the aluminum smelter started
|
| Oct 2010 |
Construction | MaadenMaaden awarded mechanical and electrical works contract to Mohammad Al Mojil Group CompanyMohammad Al Mojil Group Company
|
| Dec 2010 |
Construction | Contract to build cathode sealing and anode pallet storage buildings awarded to Abdullah A. M. Al-Khodari Sons CompanyAbdullah A. M. Al-Khodari Sons Company
|
| Jan 2011 |
Construction | Construction of the cathode sealing and anode pallet storage buildings started
|
| Q1 2013 |
Completion | Project expected to be completed
|
|
|
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Master Project
Package Project
Contract Project
|
|
 |
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