Al Ittihad claims top spot in Saudi Pro League after victory over Al Fateh    Saudi delegation participates in the 7th U20 Deans Summit in Brazil    Al-Jubeir discusses with EU officials enhancing bilateral cooperation    GASTAT: Non-oil exports up 22.8% in September 2024    Saudi Arabia to host 28th Annual World Investment Conference in Riyadh    Saudi Arabia allows licensed flour milling companies to export flour    Saudi Arabia joins international partnership initiative to boost hydrogen economy    Israeli drones kill two paramedics, injure four in southern Lebanon    Trump's new attorney general nominee sparks concerns over DOJ independence    Australia drops proposed laws to regulate social media misinformation    Six Palestinians killed in Israeli airstrikes on central Gaza    Riyadh Emir inaugurates International Conference on Conjoined Twins in Riyadh    Al Khaleej stuns Al Hilal with 3-2 victory, ending 57-match unbeaten run    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia set to become major aluminum exporter
Published in The Saudi Gazette on 06 - 05 - 2010

Five years from now, Saudi Arabia is set to become a major aluminum exporter once the three mega smelter projects worth more than $10 billion start producing nearly 2.4 million tons, the National Commercial Bank (NCB) said in a study.
At present, the Kingdom's aluminum industry is concentrated in the downstream sector, the study said.
More than 110 companies make up the sector, which processes various types of imported aluminum products to produce aluminum fixtures for construction, kitchens, cooking utensils and other aluminum-related applications, the study on Saudi Arabia's aluminum industry noted.
Diversification of the sector's downstream production portfolio will allow local manufacturers to enter new markets and increase their market share.
“ Saudi Arabia is on the verge of becoming a major upstream player in the global aluminum industry. Upon completion, three announced aluminum smelters will supply roughly 2.44 million metric tons per annum (mntpa) of primary aluminum by the start of 2016,” said NCB.
“The projects, valued at around $19.3 billion, will turn the Kingdom into a net exporter, and eventual global supplier, of the metal.”
The study noted several factors that drive the aluminum industry in Saudi Arabia - the ongoing program to diversify its oil-reliant economy and the abundance of cheap energy for industrial projects.
The Kingdom is also the only GCC nation to possess massive quantities of alumina, the main component in the production of aluminum.
“Many factors are driving growth in the Saudi aluminum sector. Most importantly are the government initiatives to rapidly expand the non-oil economy. Despite the tightening conditions of 2009, the real non-oil GDP grew by three percent, with the private sector in particular expanding by 2.54 percent,” it said.
“The 2010 national budget includes SR260 billion for investment projects that ensure sustainable and balanced development, as well as job creation. The Kingdom has recently acknowledged its massive minerals resources, and has set goals to develop its minerals and mining sector to become the third pillar of the economy after hydrocarbons and petrochemicals.”
Saudi Arabian Mining Co (Ma'aden) increased its stake in a project to build an aluminum industrial complex with Alcoa in Saudi Arabia.
Ma'aden's raised its stake to 74.9 percent from 60 percent. New York-based Alcoa's stake decreased to 25.1 percent, Ma'aden said.
The Saudi mining company in December signed a contract with Alcoa to build the SR40.5 billion ($10.8 billion) industrial complex to supply aluminum to Saudi Arabia and global markets as part of the Kingdom's developmental plan to exploit its mineral resources.
The aluminum project includes a bauxite mine in Qassim, with a production capacity of 4 million metric tons.
The material will be shipped by rail to a 1.8 million metric ton-a-year alumina refinery and a 740,000 metric ton-a-year aluminum smelter in Ras Az Zawr on the Gulf.
The smelter will start production in 2013 and the refinery in 2014.


Clic here to read the story from its source.