Sunday, May 2, 2010

Alcoa (NYSE:AA) Awards First Contracts with Saudi Arabian Mining

Alcoa (NYSE:AA) and Saudi Maaden 1211.SE or Saudi Arabian Mining Co, have awarded the first contracts for the $10.8 billion aluminum joint-venture between the two companies to ABB (ABBN.VX), Fluor Corp (NYSE:FLR) and WorleyParsons (ASX:WOR).

The contracts were awarded to the companies on Sunday, and are related to the construction of the Ras Azzour aluminum facility.

Flour Corp landed the contract for overseeing the construction of the rolling mill portion of the plant, ABB was contracted for bringing electric power to the facility, while WorleyParsons and Fluor together were given the supervision, engineering and procurements for the facility's alumina refinery, which is scheduled to be completed by December, 2014.

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