Alcoa-Ma'aden secure $1bn for bauxite mine, alumina refinery

摘要

Ma'aden and Alcoa have secured commitments from commercial banks to cover $1 billion in financingforthe bauxite mine and alumina refinery at theirjoint venture aluminium complex in Saudi Arabia, according to a filing with the Saudi Stock Exchange (Tadawul). "Ma'aden [...] has received commitment letters to cover the required $1 billion commercial bankfinancingforthe development of [the] bauxite mine and alumina refinery," Ma'aden said inthefiling. The loans will mature in 16 years, and will be paid in 21 half-yearly instalments starting from June 30 2017, the company added.