Finmeccanica has been awarded a contract worth approximately USD 300 million
Finmeccanica, through its company FATA, has been awarded by ARMCO (Aluminium Rolling Mill Co.) the turnkey EPC (Engineering, Procurement and Construction) contract worth approximately USD 300 million for the aluminium rolling plant that will be located in Sohar, Oman.
At a cost of USD 385 million, this strategically important project will provide 275 direct jobs at full production and will also generate many other jobs required to support the operation of the plant. With an annual capacity of 160,000 tons, the facility provided by FATA will contain a Hazelett continuous caster, while FATA Hunter, Division of FATA S.p.A., will supply a hot rolling mill along with world-class cold rolling and finishing equipment. The rolling mill will serve the aluminium food container and food preservation foil markets, along with material for the automotive heat exchanger and air conditioning markets.
Under an Interim Agreement, FATA began the engineering works in January 2011. FATA estimates the employment levels during construction will peak at approximately 1,200 persons. The mill is uniquely positioned for the growing regional demand and sales are expected to reach international markets as well. Ground-breaking will occur in July 2011 with the first production coils targeted for August 2013.
The project fits with the strategy of adding value to existing local raw material and developing economically attractive downstream investments in Oman industries that in turn contribute to creating sustainable employment, expand the local industrial network an well as increase and diversify revenues for the local economy.