SAUDI ARABIAN MINING COMPANY ANNOUNCES THAT ITS SUBSIDIARY MAADEN PHOSPHATE COMPANY WILL SHUTDOWN ITS AMMONIA PLANT OPERATIONS TO PERFORM TECHNICAL REPAIRS TO THE HEAT EXCHANGER
Saudi Arabian Mining Company MAADEN announces that its subsidiary Maaden Phosphate Company MPC will shutdown of Ammonia plant operations located in Maaden complex at Ras Al Khair city to carry out technical repairs in the heat exchanger which is estimated to last from 21/08/2015G corresponding to 06/11/1436H for a period of around 14 days.
The Ammonia plant produces ammonia which is used in manufacturing of Diammonium Phosphate (DAP). The shutdown will have no impact on the Companys ability to meet its obligations towards its customers. At the same time, the DAP plant will continue producing continuously using the ammonia inventory. Thus, the shutdown will have no significant financial impact.
Further substantial developments will be announce in due course.
MPC is a limited liability company co-owned by Maaden (70%) and Saudi Basic Industries Corporation (SABIC) (30%).
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