Hyundai’s engineering arm scoops $1.5bn Saudi alumina project
Seoul based Hyundai Engineering & Construction has won the $1.5 billion construction contract for an alumina refinery, part of the multi-billion dollar project to develop a fully integrated aluminium complex in Ras Al Khair, Saudi Arabia.
The complex worth $10.8bn is being built by Ma’aden Bauxite and Alumina Company JV between Saudi Arabian Mining Company and US based Alcoa Incorporated which holds 25.1% stake. The fully integrated industrial complex consists of a bauxite mine at Ba’aitha and an alumina refinery, aluminum smelter and rolling mill at Ras Al Khair.
Maaden, Saudi Arabia’s state-run mining company, confirmed in a statement that Hyundai would be carrying out an engineering, procurement, construction and pre-commissioning work for the 1.8 million-tonne-per-year refinery.
“The government of the Kingdom of Saudi Arabia has set the vision and established the infrastructure to enable the development of the world’s largest, lowest cost fully integrated aluminum industrial complex,” Abdullah Busfar, vice president of Maaden’s Aluminium Strategic Business Unit, said .