On 9 May 2008, Malaysia's MMC Corp., Saudi Arabia's Binladin Group, and the company's Hong Kong subsidiary signed a preliminary and non-binding joint venture arrangement regarding a Sino-Saudi electrolytic aluminium project. A Memorandum of Understanding regarding Supportive Commitments was also signed between the Saudi Arabia General Investment Authority (SAGIA) and the three parties. Under the terms of the arrangement, the joint venture will develop and operate a 1 million ton/annum electrolytic aluminium plant in which the company will hold a 40% stake (the largest holding), and a supportive power plant in which the company will hold a 20% stake (the 3rd largest holding). The project is valued at approximately USD 4.5 bln in total.

CN01/SW/KM/GB