ALUPCO and AAG signed a Master Framework Agreement to build the largest integrated downstream aluminum industrial base in the Kingdom of Saudi Arabia
HONG KONG SAR – Media OutReach Newswire – 1 October 2025 – Aluminum Products Company (ALUPCO), an aluminum extrusion producer in Saudi Arabia and Asia Aluminum Group (AAG), a leading Hong Kong aluminum extrusion manufacturer with a production base in Mainland China, signed an agreement on September 29 in Hong Kong. The partnership will form three joint ventures, including AAG member companies AluHouse and MacMetal, With a total investment of up to US$500 million, the companies will build the largest integrated downstream aluminum industrial base in Saudi Arabia, focusing on aluminum extrusion, modular housing, and solar panel frames. Mr. Khaled Abdel-Moneim, CEO of ALUPCO (front right), and Mr. Eric Kwong, Vice Chairman of AAG & Chairman of AluHouse (front left), signed the agreement. Witness guests (back, right to left) included Mr. Abdellateif Al Mubarak, Chairman of ALUPCO; Mr. Mahmoud Al Asmari, Director Minerals & Metals at the National Industrial Development Center (NIDC) of Saudi Arabia; Mr. Nicholas Ho Lik Chi, Commissioner for Belt & Road of the Hong Kong SAR; Mr. Chairman Kwong, Chairman of AAG; and Mr. Henry Kwong, Senior Vice President of AAG. Senior representatives from the governments of Hong Kong SAR and Saudi Arabia, including Ir Ricky Lau Chun-kit JP, Permanent Secretary for Development (Works); Mr. Nicholas Ho Lik-chi, Commissioner for Belt and Road of HKSAR; and Mr. Mahmoud Al-Asmari, Director of Minerals & Metals at the National Industrial Development Center (NIDC) of Saudi Arabia, along with key industry leaders, witnessed the signing in Hong Kong. Mahmoud Al-Asmari, Director of Metals at the National Industrial Development Center (NIDC) of Saudi Arabia, said: “This partnership marks a milestone in advancing the Kingdom’s aluminum downstream targets. By enabling the creation of the largest integrated downstream aluminum industrial base in Saudi Arabia, we are not only strengthening Saudi Arabia’s downstream aluminum manufacturing capabilities but also