Saudi Gazette - Ma’aden wins $4.2b funding:
"Saudi Arabian Mining Company (Ma'aden) has commitments from banks for financing worth up to SR15.75 billion ($4.2 billion) for a $7 billion phosphate project in Saudi Arabia, it said on Wednesday.
The project in the northern city of Waad Al-Shimal is a joint venture between Ma'aden, Saudi Basic Industries Corp and Mosaic and is part of the government efforts to create a stronger industrial base beyond oil refining and export.
The rest of the funding should come from two Saudi government funds – the Public Investment Fund (PIF) and Saudi Industrial Development Fund (SIDF) - as well as some export credit agencies (ECA)."
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