Business News : Maaden signs $1.5 billion aluminum refinery contract

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DUBAI (Business News) - Saudi Arabian Mining Company (Maaden) 1211.SE has signed a $ 1.5 billion contract with Hyundai Engineering & Construction Co. (000720.KS) to build an aluminum refinery in the kingdom's Eastern Province, a bourse statement said on Sunday.


The refinery will have an annual production capacity of 1.8 million metric tons of smelter-grade alumina and is scheduled to be completed by the end of 2014, the statement added.


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