China and Saudi Arabia sign electrolytic aluminum project

The Aluminum Corp. of China Limited, Malaysia Mining Corporation (MMC) and the Saudi Binladin Group (SBG) in the Kingdom of Saudi Arabia, recently met in Beijing to sign a joint agreement on the production of electrolytic aluminum with an annual output of one million tons in Jazan Economic City. In the meantime, the Saudi Arabian General Investment Authority (SAGIA) also signed "the memorandum of understanding of commitment to support" on the project with the three parties. The agreement is an important step for the Chinese aluminum industry to develop towards energy and resources-rich areas outside China; and gradually achieve a strategic adjustment in the company's structure.