Contracts to build a huge aluminum complex in Saudi Arabia were awarded by Alcoa (NYSE:AA) and Saudi Maaden to a number of companies, which were valued at $274.7 million.
A statement on the Saudi bourse website said U.S. Wagstaff, BWG Bergwerk, Ebner and SMS Siemag were the recipients of the contracts.
Once the complex is completed for the joint venture between Saudi Maaden and Alcoa, it will house an alumina refinery, aluminum smelter, a bauxite mine and a rolling mill.
Alcoa was at $10.48, gaining $0.26, or 2.57 percent as of 12:35 PM EDT.
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