Aluminium heavyweight Alcoa (ASX:AAI) has revealed to the market on Monday it’s about to see a $1B boost – after selling just over 25% of its JV interest in a Saudi Arabian project, back to its owners. This, the company says, will help simplify its portfolio. For Australian readers, US$1B is A$1.6B. The owners of the Ma’aden JV Project is Ma’aden itself – a Saudi Arabian industrial giant. Since 2009, the two players have been operating the Ma’aden Bauxite and Alumina Company in the Saudi kingdom. “We deeply value our partnership with Ma’aden [and we’re] are confident that under the new arrange…