SR26bn phosphate plant to shore up KSA exports | Arab News

SR26bn phosphate plant to shore up KSA exports | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:

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The Saudi Arabian Mining Company (Maaden) on Monday announced the signing of a shareholders agreement to jointly develop an SR26 billion fully integrated phosphate production facility in Saudi Arabia with partners — The Mosaic Company and the Saudi Basic Industries Corporation (SABIC).
“Maaden, Mosaic and SABIC will own 60 percent, 25 percent and 15 percent of the project respectively,” Maaden officials said. It will make Saudi Arabia one of the world’s largest phosphate exporters.
The new complex will act as the anchor project at Waad Al-Shammal and will deliver significant value to Maaden shareholders. As one of the largest integrated phosphate fertilizer facilities in the world, it will double Maaden’s cost effective phosphate production and improve Ma’aden’s access to key global markets."

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