Saudi Maaden signs $10.8 bln deal with U.S. Alcoa

RIYADH, Dec 20 (Reuters) - Saudi Arabian Mining Co (Maaden) signed on Sunday an agreement with U.S. aluminium giant Alcoa to build a $10.8 billion aluminium complex. Under the agreement, the two firms will build a 1.8 million tonnes per year aluminium refinery and a 740,000 million tonnes per year smelter in Ras Azzour on the kingdom's Gulf coast, Maaden's CEO Abdullah al-Dabbagh told reporters. The smelter is slated to start production in 2013 while the refinery would come online in 2014, he added.