The Ma'aden Alcoa (NYSE: AA) aluminum joint venture today announced that
it has poured the first concrete in the construction of the region's
first alumina refinery at the fully integrated aluminum complex at Ras
Al Khair. Once complete, the refinery will initially produce 1.8 million
metric tonnes of smelter-grade alumina per year. In another first within
the Kingdom, the refinery will utilize a technologically advanced,
engineered natural system to treat, recycle and conserve significant
volumes of water.
Speaking at the ceremony marking the pouring of first concrete, Engineer
Abdullah Busfar, chairman of the board of directors of Ma'aden Aluminium
Company, said that the refinery was highly symbolic of the Kingdom's
emerging strength as a competitor in the regional and global aluminum
industry.
"We have everything we need to develop a fully integrated aluminum
industry within Saudi Arabia," Busfar said. "In Ma'aden itself we have
the experience and local knowledge required to develop the bauxite
reserves and the other natural resources needed for feedstocks. We have
the support and leadership of the Government. And we have a partnership
with Alcoa that is accelerating the development of the skills and
technology required to build out this complex and the downstream
opportunities it will create."
Ken Wisnoski, Alcoa Vice President and President of Alcoa's Primary
Products Growth group, added that the joint venture's commitment to
world-class design and low operating costs was apparent throughout the
complex.
"The refinery, as with the smelter and the rolling mill, will be based
on best-in-class technologies and operating practices. Conserving
resources is crucial to maintenance of low operating costs and, as with
the other facilities within this complex, this refinery has numerous
advantages designed to reduce its demand on energy and other natural
resources, such as water. We're pouring concrete today as the foundation
for a long-term, highly competitive, low-cost and sustainable
operation," Wisnoski said.
Ma'aden President and CEO Khalid Al Mudaifer commended the project team
for their ingenuity in applying measures to protect the environment. He
also highlighted the project's role in creating new careers for Saudi
nationals and developing a local supplier program to benefit communities
near the future operations.
The complex's smelter and rolling mill are scheduled to begin production
in 2013.