Maaden, Alcoa in deal with Samsung

RIYADH: Saudi Arabian Mining Company （Maaden） and US company Alcoa signed a letter of intent with South Korea's Samsung Engineering worth SR2.21 billion （$590 million） to build part of a mega aluminum complex.

Alcoa and Maaden teamed up in 2009 to build the aluminum complex in Ras Al-Zour. Maaden signed a letter of intent with Samsung which involves engineering, procurement and construction of a rolling mill as well as testing the plant, Maaden said. The project would take 32 months to complete.