13 December 2012

Alcoa and Ma’aden Break Ground for Middle East’s First Automotive Products Aluminum Rolling Mill

Riyadh, Saudi Arabia & New York – 12 December 2012 (BUSINESS WIRE) - Alcoa and The Saudi Arabian Mining Company (Ma’aden) today broke ground for construction of expanded rolling mill capabilities at their combined aluminum complex in Ras Al Khair, Saudi Arabia. The expanded capabilities will enable the facility to supply aluminum automotive, building and construction sheet and foil stock to the Kingdom’s developing new industry and other global markets beginning in 2014, positioning the project to capture growing demand for aluminum from the automotive, building and construction sectors.

Ma’aden President and CEO Engineer Khalid Al Mudaifer said the new sheet products integrated rolling and surface treatment complex is an exciting step for Saudi Arabia as it enters the global aluminum industry and demonstrates the power of the partnership created by Ma’aden and Alcoa.

“As we break ground today, we do so knowing that our joint venture with Alcoa has a vote of confidence from one of the most prestigious manufacturers in the global automotive industry. From this foundation we will see the growth of an industry that will create opportunities for career development and downstream business growth for Saudi Arabian citizens for many generations to come,” Engr Mudaifer said.

Alcoa Chairman and CEO Klaus Kleinfeld said that the addition of the new automotive sheet products capabilities was a natural extension of the government’s vision to develop world-class downstream manufacturing enterprises in Saudi Arabia, and further leveraged Alcoa’s expertise in the market.

“Today we are seeing the tremendous potential of the Ma’aden-Alcoa joint venture become reality. Alcoa has been bringing innovative solutions to the automotive industry for 100 years and together with Ma’aden, we are now positioned at a new intersection of commerce in the Middle East to capture profitable growth. Every individual who has played a role in achieving this historic milestone today should feel proud of their contributions, and I thank them,” Kleinfeld said.

Jaguar Land Rover (JLR) issued a press release yesterday announcing it has signed a letter of intent to explore the possibility of setting up an automotive facility in Saudi Arabia. Although discussions between JLR and the Saudi Government are at a preliminary stage, opportunities have been identified in aluminum component production, an area where JLR has a leadership position.

Alcoa is the world’s leading producer of primary and fabricated aluminum, as well as the world’s largest miner of bauxite and refiner of alumina. Alcoa employs approximately 61,000 people in 31 countries across the world. 

Source: Alcoa