Saudi smelting job to be finalised by Dec: MMC

UTILITIES and infrastructure group MMC Corp Bhd (2194) says the contract to build an aluminium smelting plant at the Jazan Economic City (JEC) in Saudi Arabia will be finalised by December this year. The first unit of the planned 3x300-megawatt power plant there is targeted for commercial operations in the first or second quarter of 2014, MMC said in a filing to Bursa Malaysia to give updates on the various projects within the JEC development. MMC is partnering the Saudi Bin Laden Group in developing the US$30 billion (RM106.2 billion) project. As for the planned refinery, the deadline to submit the request of proposal issued by the Saudi's Ministry of Petroleum remains by the end of September. MMC also said that the award of contract to build a port there was halted pending further progress of the smelting plant. In a separate statement, MMC said Dubai World is still assessing its investment priorities amid the the global economic downturn. Hence, there is no further development in relation to the initial pact signed by both companies to build a US$5 billion (RM17.7 billion) maritime centre in Johor since the last announcement in May this year.