Saudi Arabia officially produces the first batch of domestic alumina processing alumina

"TradeArabia" reported on December 25 that the state-owned Saudi Arabian Mining Company (Ma'aden) announced that it has a joint venture with Alcoa Inc. and a large aluminum project in Ras al-Khair (including smelters, Refineries, aluminum rolling mills and ports) formally produced the first batch of alumina processed by the Bai Bai bauxite mine belonging to Ma'aden in Saudi Arabia and transported through a 600-kilometre railway. Alcoa owns 25% of the shares in this project.

Shaguo Mining stated in the exchange's documents that the smelter can produce 740,000 tons of aluminum each year, and commercial operation will affect the company's financial status from the third quarter. The Saudi Arabia project is crucial to Alcoa. Besides scale, it is also the world's lowest-cost smelter, which is crucial when the industry is committed to cutting costs.

Saudi Arabia is striving to expand its infrastructure, including oil and gas facilities, water facilities and power plants, residential and commercial buildings, roads and railways. The super large projects in Saudi Arabia include Medina, Hail, Tabuk, Jizan, Ras Al-Khair, and Rabigh ( Rabigh) and other places to build six economic cities.

Agence France-Presse reported that Saudi Arabia announced the fiscal year 2015 budget on the 25th, including a slight increase in expenditure, but the income dropped due to low oil prices, making Saudi Arabia a budget deficit of $ 39 billion next year, for the first time in 2009. Saudi Arabia did not publish the basis for the oil price assumed when budgets were budgeted. However, according to Bloomberg News, John Sfakianakis, former chief economic advisor of the former Ministry of Finance, believes that Saudi Arabia’s budget assumes that oil prices should be US$80/barrel in order to release oil prices to the market. Rebound message.


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