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Maaden inks loan deals for aluminium venture
- Saudi Arabia: Thursday, October 18 - 2012 at 05:50
Saudi Arabian Mining Co (Maaden) has signed financing agreements worth $320m with a Saudi government fund to develop the first phase of an aluminium projects in the kingdom with Alcoa, Reuters has reported. The government's Saudi Industrial Development Fund agreed to lend Maaden two loans, each worth $120m, the mining company said. The loans are to be repaid over six years in twice yearly instalments, with repayments starting for the first in February 2015, and for the second in January 2016, Maaden said.
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