Saudi Arabian Mining Company (Maaden) is planning to launch the financing deal for its $7bn aluminium smelter in the second quarter of 2010, according to bankers close to the project, Meed magazine has reported. Maaden is developing the project in a joint venture with US aluminium company Alcoa. Riyad Bank and Standard Chartered are acting as financial advisers on the scheme. The smelter is expected to start production in 2013.
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