SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES LATEST DEVELOPMENT REGARDING THE AMMONIA PLANT AT ITS SUBSIDIARY (MAADEN WAAD AL SHAMAL PHOSPHATE COMPANY)
Further to the company announcement on Tadawul on 01/09/1434H (corresponding to 09/07/2013G), Saudi Arabian Mining Company (Maaden) announces today 05/12/1437H (corresponding to 06/09/2016G) the completion of construction at the ammonia plant of its subsidiary Maaden Waad Al Shamal Phosphate Company (MWSPC), and the commencement of trial operations. During trial operations the plant will gradually be ramped-up and it is expected that production will be variable.
The ammonia plant will have an annual production capacity of 1.1 million tonnes. The impact on earnings will be recognised following the declaration of commercial production.
Any additional information will be provided in due course.
Saudi Arabian Mining Company (Maaden), The Mosaic Company and Saudi Basic Industries Corporation (SABIC) own 60%, 25% and 15%, respectively, of the joint venture developing the Waad Al Shamal Phosphate project.
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