SAUDI ARABIAN MINING COMPANY, (MAADEN) ANNOUNCES THAT PUBLIC INVESTMENT FUND (PIF) HAS APPROVED USD 2 BILLON FINANCING FOR MAADEN WAAD AL SHAMAL PHOSPHATE COMPANY
Further to the Companys announcement on Tadawul on 02/22/1435H (corresponding to 25/12/2013G), the Saudi Arabian Mining Company (Maaden) announces that Public Investment Fund (PIF) has approved today 03/04/2014G USD 2 billion to fund part of Maadens Waad Al Shamal Phosphate Company. This company is a joint venture with SABIC and The Mosaic Company.
The loan will be for a period of 17 years and will be repaid in half yearly installments with 5 year grace period.
Any additional information will be provided in due course.
For further information please contact: