SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THE LATEST DEVELOPMENT AT THE AMMONIA PLANT OF ITS SUBSIDIARY MAADEN WAAD AL SHAMAL PHOSPHATE COMPANY
Further to the company announcement on Tadawul on 05/12/1437H (corresponding to 06/09/2016G), Saudi Arabian Mining Company (Maaden) announces the beginning of commercial production of the ammonia plant of its subsidiary Maaden Waad Al Shamal Phosphate Company (MWSPC) at Ras Al Khair starting from 03/04/1438H (corresponding to 1/1/2017G). The ammonia plant has achieved stable operations. The designed production capacity of the ammonia plant is 1.1 million tonnes annually.
The impact on earnings of this commercial production will be recognized in the Company 2017 first quarter financial results.
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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