10 July 2013
JEDDAH - Saudi Arabian Mining Co (Ma'aden) has awarded a SR3.09 billion ($825 million) engineering, procurement and construction (EPC) contract to South Korea's Daelim Industrial Co to build an ammonia plant in the Kingdom, Ma'aden said in a statement Tuesday.
The ammonia plant will have a production capacity of 1.1 million tons. Completion is expected in late 2016.
It will form the first part of its multi-billion dollar Waad Al-Shimal phosphate project, with other processing plants under the scheme to be constructed, the statement said.
Financing for the entire complex, which is due to cost around SR26 billion ($6.93 billion), will be in place by the fourth quarter of this year, it added.
"Today we are pleased to announce the first of several EPC contracts to be awarded before the end of this year for the development of our world-class phosphate project at Wa'ad Al Shammal," said Ma'aden President and CEO Khalid Al-Mudaifer. "This project will greatly contribute to the economic and social development of the northern region of Saudi Arabia while creating significant value for Ma'aden shareholders."
As one of the largest and most efficiently integrated phosphate fertilizer facilities in the world, the project will double Ma'aden's phosphate production and improve its access to key global markets.
The investment cost of the entire phosphate complex is estimated at SR26 billion, of which approximately SR21 billion will be invested in the King Abdullah Project for the Development of Wa'ad Al Shammal. As one of the largest and most efficiently integrated phosphate fertilizer facilities in the world, the project will double Ma'aden's phosphate production and improve its access to key global markets. The new facility is expected to commence in late 2016 with a total capacity of approximately 16 million tons per year.
The facilities are expected to produce, as finished product, approximately 3 million tons of fertilizer products such as DAP/MAP and NP/NPK, as well as approximately 440,000 tons of downstream products including purified phosphoric acid (PPA) used in food industries, sodium tripolyphosphate (STPP) used in detergent manufacturing, and Dicalcium Phosphate & Monocalcium Phosphate (DCP/MCP) used in the manufacturing of animal feed.
JEDDAH - Saudi Arabian Mining Co (Ma'aden) has awarded a SR3.09 billion ($825 million) engineering, procurement and construction (EPC) contract to South Korea's Daelim Industrial Co to build an ammonia plant in the Kingdom, Ma'aden said in a statement Tuesday.
The ammonia plant will have a production capacity of 1.1 million tons. Completion is expected in late 2016.
It will form the first part of its multi-billion dollar Waad Al-Shimal phosphate project, with other processing plants under the scheme to be constructed, the statement said.
Financing for the entire complex, which is due to cost around SR26 billion ($6.93 billion), will be in place by the fourth quarter of this year, it added.
"Today we are pleased to announce the first of several EPC contracts to be awarded before the end of this year for the development of our world-class phosphate project at Wa'ad Al Shammal," said Ma'aden President and CEO Khalid Al-Mudaifer. "This project will greatly contribute to the economic and social development of the northern region of Saudi Arabia while creating significant value for Ma'aden shareholders."
As one of the largest and most efficiently integrated phosphate fertilizer facilities in the world, the project will double Ma'aden's phosphate production and improve its access to key global markets.
The investment cost of the entire phosphate complex is estimated at SR26 billion, of which approximately SR21 billion will be invested in the King Abdullah Project for the Development of Wa'ad Al Shammal. As one of the largest and most efficiently integrated phosphate fertilizer facilities in the world, the project will double Ma'aden's phosphate production and improve its access to key global markets. The new facility is expected to commence in late 2016 with a total capacity of approximately 16 million tons per year.
The facilities are expected to produce, as finished product, approximately 3 million tons of fertilizer products such as DAP/MAP and NP/NPK, as well as approximately 440,000 tons of downstream products including purified phosphoric acid (PPA) used in food industries, sodium tripolyphosphate (STPP) used in detergent manufacturing, and Dicalcium Phosphate & Monocalcium Phosphate (DCP/MCP) used in the manufacturing of animal feed.
© The Saudi Gazette 2013
