Middle East Economic Survey

VOL. LIII

No 28

12-Jul-2010

SAUDI ARABIA

Ma'aden Aluminum Project Shows Financing Costs Edging Lower

The latest details to emerge on the financing for the Saudi Arabian Mining Company (Ma'aden) joint venture aluminum project, being implemented with US company Alcoa, suggests that costs are edging lower from the highs seen in the immediate wake of the credit crunch. The margins are 165-245 bps for the riyal tranche and in 205-275 bps for the dollar tranche, stepping up...