The Saudi mining company Ma'aden yesterday started operations at its Ras Al Khair plant to produce diammonium phosphate.
The US$5.6 billion phosphate project is fully operational and the plant, which is 90km north of Jubail in the Eastern Province, will gradually increase its production to its designed capacity of 3 million tonnes a year, the state-run producer said in a filing to the Saudi bourse yesterday.
Ma'aden went public in 2008, raising 10.5bn Saudi riyals to start two projects: a phosphate joint venture with Saudi Basic Industries Corporation (Sabic), the world's largest petrochemicals maker; and an aluminium joint venture with Alcoa.
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