ALUPCO, AAG in deal to build major downstream aluminium base

ALUMINIUM Products Company (ALUPCO), a leading aluminium extrusion producer in Saudi Arabia, and Asia Aluminum Group (AAG), a major Hong Kong aluminium extrusion manufacturer with a production base in Mainland China, have signed a Master Framework Agreement to build the largest integrated downstream aluminium industrial base in Saudi Arabia.

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The partnership, signed in Hong Kong, will form three joint ventures, including AAG member companies AluHouse and MacMetal. With a total investment of up to $500 million, the companies will build the largest integrated downstream aluminium industrial base in Saudi Arabia, focusing on aluminium extrusion, modular housing, and solar panel frames.

Khaled Abdel-Moneim, CEO of ALUPCO, and Eric Kwong, Vice Chairman of AAG and Chairman of AluHouse, signed the agreement in the presence of Abdellateif Al Mubarak, Chairman of ALUPCO, along with Chairman Kwong of AAG; and Henry Kwong, Senior Vice President of AAG.

Senior representatives from the governments of Hong Kong SAR and Saudi Arabia, including Mahmoud Al-Asmari, Director of Minerals & Metals at the National Industrial Development Center of Saudi Arabia (NIDC), along with key industry leaders, witnessed the signing in Hong Kong.