Chalco to build plant in Saudi Arabia
9 October 2007
Aluminum Corporation of China, or Chalco, announced that it has signed a memorandum of understanding with Malaysian Infrastructure and Energy Group and Saudi Binladin Group to build an aluminum smelters in Saudi Arabian, Jinrongjie reported (in Chinese). The project, representing a total investment of US$3 billion, will begin construction in the second half of next year. Industry experts said China's major state-owned enterprises (SOEs) have considered the Middle East an emerging development base for aluminum smelters. China Nonferrous Metal Industry Group, another SOE in the aluminum industry, began a project in Saudi Arabia in April of this year.