Jun 22 2011 |
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Saudi's Maaden Secures $1B Govt Loan For Aluminum JV With Alcoa
Wednesday, Jun 22, 2011
RIYADH (Zawya Dow Jones)--Saudi Arabian Mining Co. (1211.SA), or Maaden , said Wednesday it got a $1 billion loan from the Saudi government Public Investment Fund , or PIF , to help finance its aluminium joint venture with Alcoa Inc. (AA) of the U.S.
Maaden Bauxite and Alumina Co, which is owned 74.9% by Maaden and 25.1% by Alcoa, comprises a bauxite mine and an alumina refinery project worth about $3.61 billion, Maaden said in a statement posted on the Saudi bourse website.
Maaden shares Wednesday closed down 1.12% at SAR26.50 on the Riyadh bourse.
Copyright (c) 2011 Dow Jones & Co.
22-06-11 1402GMT
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