Saudi Arabian Mining Co., the state- run producer known as Maaden, delayed production from its Ras al-Zour phosphate plant to the second quarter of 2011 from the fourth quarter of this year.
The company faced “financing difficulties” as it was building the 20.6 billion-riyal ($5.5 billion) facility, said outgoing Chief Executive Officer Abdullah al-Dabbagh in remarks to Al Arabiya television.
The delay will not incur additional costs and commercial production will start in the third quarter, the Riyadh-based miner said in a statement to the Saudi bourse today.
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