Saudi Arabia: $ 892 Million Contract for the Implementation of the Third Phosphate Project for Ma-aden

Saudi Arabia: $ 892 Million Contract for the Implementation of the Third Phosphate Project for Ma-aden

Riyadh: Middle East

The Saudi Mining Corporation (Ma'Aden) yesterday signed a contract for the construction of the third ammonia plant with Delim Industrial Limited and Dilem Saudi Arabia Ltd. at Ras Al Khair Industrial City, with an estimated total value of 3.35 billion riyals ($ 892 million).
Under the contract, Delim Industrial Co. Ltd. and Dilim Saudi Arabia Ltd. will undertake the engineering, equipment and construction of the project, which will take about 38 months, while the nominal capacity of the factory is about 1.1 million tons of ammonia a year.
The contract was signed by Darren Davies, Chief Executive Officer and CEO of Ma & aden, and signed by Dilem Hoenem, CEO of Delim, in Maaden, Riyadh.
Davos said the Phosphate 3 facility was part of Ma's aden expansion strategy in the phosphate industry and building its plants in accordance with the strictest international standards , emphasizing that the company was about to undergo a new phase of growth in line with its plans and approach.
"The project will significantly contribute to strengthening Saudi Arabia's status as one of the world's largest phosphate producers and exporters, by increasing Maaden's production to 9 million tonnes. Phosphatic fertilizers and by opening up new horizons in the phosphate industry This reflects Ma's ability to lead the mining sector and improve its global competitiveness in accordance with its role in achieving the vision. of the 2030 Kingdom.
Hoen Yem said that seizing this opportunity to establish the third ammonia project, which is of great importance to Ma'Aden, is an important step for the company, demonstrating its building capabilities and the success of its partnerships , emphasizing his confidence in the success of this project and the achievement of common goals.

Saudi Arabia

Economy