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SR36bn deals signed to develop Waad Al-Shamal Industrial City

Feb 04, 2014

Agreements worth SR36 billion were signed on Tuesday to develop Waad Al-Shamal Industrial City in the north, which is named after Custodian of the Two Holy Mosques King Abdullah, and establish a number of industrial projects.

Northern Border Province Gov. Prince Abdullah bin Abdul Aziz bin Musaed, Minister of Petroleum and Mineral Resources Ali Al-Naimi, Finance Minister Ibrahim Al-Assaf and Water and Electricity Minister Abdullah Al-Hussayen attended the event.

Saudi Arabian Mining Company (Maaden) signed an agreement with the Canadian company SNC Lavalin and Chinese Sinopec to establish a sulfuric acid plant in the city. It signed another contract with China Huanqiu Contracting & Engineering Corp. to build an ore beneficiation plant.

Maaden also signed an agreement with South Korea's Hanwha Engineering & Construction Co. to build a phosphoric acid plant at a cost of SR3.5 billion. The plant will have a production capacity of 1.5 million tons.

Maaden also signed a deal with a Korean company to set up an ammonia plant, and another deal with a Spanish company to establish a phosphoric fertilizer plant, an official statement said.

Other agreements were to construct the main road to the city, establish a transformer, build a power supply line and set out technical specifications for an electricity power plant. The Saudi Ports Authority signed a contract to build a wharf at Ras Al-Khair Port. Finance Minister Al-Assaf signed a deal with a specialized company to provide consultancy services for building a railway line linking Waad Al-Shamal city with Ras Al-Khair Port and Jubail Industrial Port.

Deals were also signed between Saudi Aramco and Maaden and the Ministry of Petroleum and Minerals with the Ministry of Water and Electricity.

Speaking to reporters after the signing ceremony, Prince Abdullah said the new projects would create more job opportunities for citizens and enhance their welfare. He thanked King Abdullah for his support for Waad Al-Shamal industrial city project.

In a similar statement, Al-Naimi said the project was planned as part of the government’s efforts to diversify revenue sources. “Total investments in industries and other projects in the city will cross SR36 billion,” he said.

Al-Assaf, who is also chairman of Public Investment Fund, said the new projects would help sustainable development in the region. “It will create a strong base for economic development and promote the progress and prosperity of citizens.”

Maaden previously awarded two contracts; one for general engineering plan and infrastructure services for the city and the second for providing engineering designs and management services for the phosphate project. The first contract was awarded to Bechtel Company, which will prepare the general engineering plan of the city including basic, downstream and support industries. It will also carry out plans for commercial, housing and educational facilities.The second contract was awarded to Jacobs Company, which will provide engineering designs and management services for the phosphate project.Maaden's President and CEO Khalid Mudaifer said the contracts were considered basic steps for the implementation of the city. Maaden plans to invest SR26 billion for the establishment of a mega phosphate industry complex of which SR21 billion has been earmarked for setting up 7 projects in Waad Al-Shamal City for Mining Industries.

For further information please contact:

Mr. Bander M. Al-Aida
Section Head, Media Relations

E: media@maaden.com.sa

MEDIA CONTACTS

Mr. Bander M. Al-Aida

Section Head, Media Relations

media@maaden.com.sa

Annual Report 2014

Annual Report
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