Alcoa and Ma′aden Break Ground for Middle East′s First Automotive Products Aluminum Rolling Mill

Alcoa (NYSE:AA) and The Saudi Arabian Mining Company (Ma′aden) today
broke ground for construction of expanded rolling mill capabilities at
their combined aluminum complex in Ras Al Khair, Saudi Arabia. The
expanded capabilities will enable the facility to supply aluminum
automotive, building and construction sheet and foil stock to the
Kingdom′s developing new industry and other global markets beginning in
2014, positioning the project to capture growing demand for aluminum
from the automotive, building and construction sectors.

Ma′aden President and CEO Engineer Khalid Al Mudaifer said the new sheet
products integrated rolling and surface treatment complex is an exciting
step for Saudi Arabia as it enters the global aluminum industry and
demonstrates the power of the partnership created by Ma′aden and Alcoa.

'As we break ground today, we do so knowing that our joint venture with
Alcoa has a vote of confidence from one of the most prestigious
manufacturers in the global automotive industry. From this foundation we
will see the growth of an industry that will create opportunities for
career development and downstream business growth for Saudi Arabian
citizens for many generations to come,? Engr Mudaifer said.

Alcoa Chairman and CEO Klaus Kleinfeld said that the addition of the new
automotive sheet products capabilities was a natural extension of the
government′s vision to develop world-class downstream manufacturing
enterprises in Saudi Arabia, and further leveraged Alcoa′s expertise in
the market.

'Today we are seeing the tremendous potential of the
Ma′aden-Alcoa joint venture become reality. Alcoa has been bringing
innovative solutions to the automotive industry for 100 years and
together with Ma′aden, we are now positioned at a new intersection of
commerce in the Middle East to capture profitable growth. Every
individual who has played a role in achieving this historic milestone
today should feel proud of their contributions, and I thank them,?
Kleinfeld said.

Editor's Note: Jaguar Land Rover (JLR) issued a press release
yesterday announcing it has signed a letter of intent to explore the
possibility of setting up an automotive facility in Saudi Arabia.
Although discussions between JLR and the Saudi Government are at a
preliminary stage, opportunities have been identified in aluminum
component production, an area where JLR has a leadership position.

About the Ma′aden Alcoa joint venture

In its initial phases, the joint venture will develop a fully integrated
industrial complex which will become the world's preeminent and
lowest-cost producer of primary aluminum, alumina and aluminum products,
with access to the growing markets of the Middle East and beyond. The
complex comprises:

• 
  A bauxite mine with an initial capacity of 4,000,000 metric tons per
  year
  
• 
  An alumina refinery with an initial capacity of 1,800,000 metric tons
  per year
  
• 
  An aluminum smelter with an initial capacity of 740,000 metric tons
  per year
  
• 
  A rolling mill that will be the first in the Middle East capable of
  producing food grade can sheet, as well as sheet for automotive,
  building and construction applications. Upon completion, the mill will
  be one of the most technically-advanced mills in the world.
  

About Alcoa

Alcoa is the world′s leading producer of primary and fabricated
aluminum, as well as the world′s largest miner of bauxite and refiner of
alumina. In addition to inventing the modern-day aluminum industry,
Alcoa innovation has been behind major milestones in the aerospace,
automotive, packaging, building and construction, commercial
transportation, consumer electronics and industrial markets over the
past 120 years. Among the solutions Alcoa markets are flat-rolled
products, hard alloy extrusions, and forgings, as well as Alcoa ? wheels,
fastening systems, precision and investment castings, and building
systems in addition to its expertise in other light metals such as
titanium and nickel-based super alloys. Sustainability is an integral
part of Alcoa′s operating practices and the product design and
engineering it provides to customers. Alcoa has been a member of the Dow
Jones Sustainability Index for 11 consecutive years and approximately 75
percent of all of the aluminum ever produced since 1888 is still in
active use today. Alcoa employs approximately 61,000 people in 31
countries across the world. For more information, visit www.alcoa.com
and follow @Alcoa on Twitter
at twitter.com/Alcoa.

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