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Maaden-Alcoa joint ventures secure financing deals

Saudi Arabian Mining Co (Maaden) has said its two joint ventures with Alcoa Inc have signed financing contracts worth $2.1bn (SR7.9bn) with the Public Investment Fund (PIF), Arab News has reported. "The loan is part of financing the Maaden Aluminum Co and Maaden Rolling Co, both of which own 74.9% by Maaden and 25.1% by Alcoa," Maaden's president and CEO Abdullah Dabbagh said. Maaden Aluminum is to receive $1.3bn, while Maaden Rolling will receive $821m, the company said.