ADDENDUM ANNOUNCEMENT FROM SAUDI ARABIAN MINING COMPANY (MAADEN) RELATED TO THE SHUTDOWN OF ITS AMMONIA PLANT OPERATIONS TO PERFORM TECHNICAL REPAIRS TO THE HEAT EXCHANGER
Further to the company announcement on Tadawul website on 05/11/1436H (corresponding to 20/08/2015G), the Saudi Arabian Mining Company (Maaden) announces that its subsidiary Maaden Phosphate Company (MPC) has completed the technical repairs of the heat exchanger and successfully resumed the operations of the ammonia plant located in Maaden complex at Ras Al Khair city as of 20/11/1436H (corresponding to 4/9/2015G).
The Ammonia plant produces ammonia which is used in the manufacturing of Diammonium Phosphate DAP. The shutdown had no impact on production at the DAP plant due to the availability of sufficient inventory of ammonia. Consequently, this shutdown has not affected the companys ability to meet its obligations towards its customers nor resulted in significant financial impact.
MPC is a limited liability company co-owned by Maaden (70%) and Saudi Basic Industries Corporation (SABIC) (30%).
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