Chairman of the Ma’aden Aluminium joint venture, Engineer Abdullah Busfar recounted some additional noteworthy statistics that have led to the First Hot Metal milestone.
“From the outset this has been a project that has been managed to achieve both cost and schedule targets. It is just 29 months since the joint venture issued Bechtel with a Notice to Proceed with construction. That is as we anticipated at the time, and it is in keeping with the most advanced and disciplined project construction practices anywhere in the world.
“We want to congratulate Bechtel and its team of 46 different sub-contracting companies that employed the labor and expertise of about 14000 people from 25 different nationalities to reach this milestone. They have worked almost 60 million hours with world-class safety performance.
“More than 700 Saudi Arabian citizens have completed their initial intensive training and are ready to take their place as skilled operators within this smelter. That we can celebrate all this here today, in what was desert less than three years ago, is a great credit to everyone who has contributed to this project. This is exactly the safe and productive outcome that our JV committed to delivering, and we are very pleased that we are seeing it become reality,” Engr Busfar said.About the Ma’aden Alcoa joint venture In its initial phases, the joint venture will develop a fully integrated industrial complex which will become the world's preeminent and lowest-cost producer of primary aluminum, alumina and aluminum products, with access to the growing markets of the Middle East and beyond. The complex comprises:
- A bauxite mine with an initial capacity of 4,000,000 metric tons per year
- An alumina refinery with an initial capacity of 1,800,000 metric tons per year
- An aluminum smelter with an initial capacity of 740,000 metric tons per year
- A rolling mill, with initial capacity of 380,000 metric tons per year. The mill will be the first in the Middle East capable of producing food grade can sheet, as well as sheet for automotive building and construction applications, and will be one of the most technically advanced mills in the world.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV