Saturday, Apr 21, 2012
RIYADH (Zawya Dow Jones)--Saudi Arabian Mining Co. (1211.SA), the state-run producer known as Maaden, said Saturday it is talking with a number of banks about securing Islamic loans worth up to 7 billion Saudi riyals ($1.86 billion).
The medium-term Murabaha financing will be used to finance future projects, the company said in a statement on the website of the Saudi stock exchange.
Current projects under way by Maaden include the start of construction this year of an $11 billion integrated aluminum complex in partnership with U.S.-based Alcoa Inc (AA).
-By Ellen Knickmeyer, Dow Jones Newswires, +966 1 279 5252, ellen.knickmeyer@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
21-04-12 0852GMT
