The developers of Jazan Economic City signed a series of six agreements and MOUs Saturday at the laying of the foundation stone of the city's marketing complex, marking the beginning of construction work, Saudi Gazette reported today. The major milestone comes within a year of JEC's launch in November last year by the Custodian of the Two Holy Mosques, King Abdullah bin Abdul-aziz. Malaysian conglomerate MMC International Holdings Limited and construction group Saudi Binladin Group (SBG) signed an agreement with Aluminum Corporation of China Limited (Chalco) to develop, own and operate an aluminium smelter at JEC for $2 billion (SR7.5 billion). The smelter will have an annual production capacity of approximately one million metric tons, MMC - the utilities and infrastructure group, said in a statement. The ceremony was inaugurated by Prince Mohammad Bin Naser, Governor of Jazan, in the presence of Saudi Arabian General Investment Authority (SAGIA) Governor Amr Al-Dabbagh, Abdullah Mohammad Al-Qarni, Mayor of Jazan, as well as local and foreign dignitaries. --MORE
