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Ma'aden and Samsung Engineering sign contract for world’s largest ammonia plant

Jul 08, 2007

RIYADH, Saudi Arabia, 08 JULY 07: As a further step in creating the world’s largest integrated Phosphate project, Ma'aden signed a SR3.6 billion contract with Samsung Engineering this afternoon. The contract is to deliver an Ammonia production plant with a production capacity of 3,300 tonnes per day. The contract was signed by Dr Abdallah Dabbagh, President and CEO of Ma'aden, Mr Yeon-Joo Jung, President & CEO of Samsung Engineering Co Ltd and Mr Jae Seop Jeong, Managing Director of Samsung Saudi Arabia Ltd.

The contract with Samsung Engineering covers the engineering, procurement, construction commissioning and start-up of the plant to be located at the Minerals Industry City at Ras Az Zawr. Work will start in the final quarter of this year and is scheduled for completion in December 2010.

Speaking at the signing event, Dr Dabbagh commented, “With the signing of this contract, Ma'aden has taken another major step towards the realisation of the world’s largest fully integrated mine to product di-ammonium phosphate project. As a lump sum turn key contract this agreement importantly delivers a fixed price in an inflationary market.” On selecting Samsung Engineering as Ma'aden’s partner on the project, Dr Dabbagh said, “Samsung Engineering has world leading technology through Uhde and a strong track record both internationally and in Saudi Arabia. They have already worked closely with SABIC, and this has contributed to the development of a strong working relationship between us.”

The primary purpose of the Ammonia plant is to supply liquid ammonia to the di-ammonium phosphate (DAP) plant, for the production of DAP/MAP fertilizer. An important co-product is steam for the generation of power, and more than 400 thousand metric tons will be exported to International markets using Ras Az Zawr port.

The plant is based on Uhde technology, Germany, and will comprise several different units: natural gas compression and desulphurization; reforming; waste heat recovery and boilers, CO shift conversion; CO2 removal and methanation; syngas compression; ammonia synthesis; refrigeration; ammonia and hydrogen recovery; ammonia storage and shipping facilities and associated utilities.

Mr Yeon-Joo Jung, said at the signing, “Samsung Engineering has secured comparative advantage through ahead-of-schedule delivery and outstanding quality since it first entered Saudi Arabia in 2001. With our new partners, we are bringing the DAP industry into a new generation of technology and innovation. This plant will be second to none in the world with its size and capacity”.

The output of Ma'aden’s phosphate project will represent around ten percent of the World’s global traded supply of DAP fertilizer and will be essential for growing crops to feed the world for decades to come. As an integrated project it will create a significant number of new direct and indirect jobs for Saudis, especially in the northern and eastern regions of the Kingdom.

In March, Ma'aden signed a heads of agreement deal with SABIC to develop the project and last week confirmed other contracts with international partners to build DAP granulation, phosphoric acid and sulphuric acid plants at Ras Az Zawr.

After mining and beneficiation at the Al Jalamid mine site, the phosphate raw material will be transported to Ras Az Zawr by the new North South Railway for further processing. The phosphate ore reserves in the North of the Kingdom will be surface mined and have estimated minable resources of 1.6 billion tonnes in addition to further resources of 1.5 billion tonnes.

About Ma’aden

Ma'aden was established as a Saudi Arabian joint stock company in March 1997 to facilitate the development of Saudi Arabia’s non-petroleum mineral resources and to diversify the Kingdom’s economy away from the petroleum and petrochemical sectors. Ma’aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. In July 2008 Ma’aden offered 50% of the company’s shares for subscription in a successful SR 9.25 billion IPO. Ma’aden has progressed towards realizing its vision of building a world class mineral enterprise and its mission of being a profitable, publicly owned, international mining company, while maintaining the utmost concern for human resources, health and safety, environmental and social issues.

For further information please contact:

Aqeel Alonazi
Ma'aden Corporate Communications Department

T: +966 55 3063813
E: alonaziam@maaden.com.sa

For further information please contact:

Media Relations

E: media@maaden.com.sa

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