Saudi-Alcoa Aluminum JV Awards $453 mln in Contracts

RIYADH, May 24 -- State-controlled Maaden (1211.SE: Quote) on Sunday said it awarded contracts worth $453 million for its planned Saudi-based aluminium joint-venture with Alcoa Inc (AA.N: Quote).

Maaden, also known as the Saudi Arabian Mining Co, said in a statement that a $202 million contract went to U.S.-based Fluor Corp (FLR.N: Quote) and WorleyParsons (WOR.AX: Quote) for the supervision, engineering and procurements of the complex's alumina refinery to be completed by December 2014.

Fluor Corp also won another $177 million for engineering works, procurements and supervision of the construction of the complex's rolling mill before the end of 2013, it added.

Fluor Arabia Ltd, the Saudi affiliate of Fluor Corp, was awared a $74 million contract for management of services at the complex and engineering works and supervision of infrastructure at the site, Maaden added.

On May 2, Maaden said Swiss-based ABB (ABBN.VX: Quote), U.S.-based Fluor Corp (FLR.N: Quote) and WorleyParsons (WOR.AX: Quote) have won the first contracts for its $10.8 billion aluminium joint-venture.

Maaden did not disclose the value of another contract it awarded to Swiss-based ABB (ABBN.VX: Quote) to deliver electric power to the aluminium smelter.