LEHMAN, LEE & XU ATTENDS CEREMONY WITH SAUDI OFFICIALS

April 24, 2007 (PRLEAP.COM) Business News
Beijing, China – April 24, 2007 – Laurentius Metaal attended a press conference on Thursday which announced the preliminary agreement between various metal industry giants in relation to the Jazan Aluminum Project, which is a collaboration between Saudi Arabian and Chinese investors and government. In attendance were Saudi Ambassador to China, H.E. Saleh A. Alhegelan and Governor Amr Al Dabbagh; MOFCOM representative, Zhang Lei; and CNMC’s vice president, Zhang Keli, along with a number of other Saudi and Chinese businessmen and government representatives.

The US$3.8 billion Jazan Aluminium Project is to be constructed on the west coast of Saudi Arabia, approximately 80 km north of Jazan. On completion, the project's annual output will be over 1.6 millions tons of aluminum. The project is funded by major Saudi investors and involves a number of Chinese companies, including China Nonferrous Metal Industry's Foreign Construction Co. who will construct the plant, and China National Machinery Industry Corporation.

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