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FINANCIAL NEWS
Saudi Maaden grants USD825m contract for ammonia plant
10 Jul 2013
(MENAFN) The Saudi Arabian Mining Company (Maaden) has granted a USD825 million contract to to Daelim Industrial Co. Ltd. & Daelim Saudi Arabia Co. Ltd.to build an ammonia plant, Arab News reported.
The plant, expected to be completed by late 2016, will have the production capacity of 1.1 million tons per year, and will be located at Ras Al-Khair as part of Maaden’s Waad Al-Shamal phosphate project.
The contract includes engineering, procurement and construction for the duration of 39 months, starting from the date of the award.
The ammonia plant forms part of Maaden’s plan to build a fully integrated phosphate production complex at the King Abdullah Project for the Development of Waad Al-Shamal Mineral Industrial City, and at Ras Al-Khair Mineral Industrial City.
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