Amsterdam, The Netherlands - Litwin Europe Middle East B.V. is pleased to announce that it has been awarded a contract for the development of a 1.5 million tonne per annum fertilizer grade phosphoric acid plant for Ma'aden, a state-owned mining company in Saudi Arabia. This follows the successful completion of the first phase, announced on 19 July 2006, which focused on the basic design and finalisation of the project's scope and costs.
Litwin will now commence the second stage - the project execution process, which is to be carried out on an EPC (Engineering, Procurement and Construction) basis. The plant will be one of the largest of its kind in the world. The total value of the contract is around US$525 million, of which Litwin's share is slightly over US$330 million. The estimated time frame for the entire project is 34 months.
Max Abitbol, President and CEO of Litwin Europe Middle East, commenting on today's announcement said: "We are very pleased to lead the second stage of a phosphate project of such magnitude. This project further illustrates Litwin's leading position in the industry and the Company's ability to successfully utilise the synergies between project execution capabilities and advanced technology solutions. We believe this project can serve as a starting point for further expansion into the Saudi phosphate market."
Three production lines for Wet Phosphoric Acid Process based on the Yara Hemi-hydrate process technology, will be installed. Litwin has selected Tekfen Construction and Installation Co. Inc to provide construction services for the plant under a consortium agreement."
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About Ma'aden
Ma'aden is a state owned mining company in Saudi Arabia. Ma'aden engages in the development, advancement and improvement of all aspects of the mineral industry, mineral products and byproducts and related industries in Saudi Arabia.
Visit Ma'aden at: http://www.maaden.com.sa
About Litwin
Litwin focuses on mid-sized Energy and Chemical EPC contracts, principally executed on a lumpsum turnkey (LSTK) basis. Litwin also provides technology solutions to the Phosphate Sector.
Litwin is a part of the Bateman Litwin NV Group.
Visit Litwin at: http://www.litwin.fr
About Bateman Litwin N.V.
Bateman Litwin focuses on mid-sized Energy EPC contracts, principally executed on a lump-sum turnkey (LSTK) basis. Bateman Litwin also provides technology solutions to the Phosphate Sector and Solvent Extraction Applications.
Visit Bateman Litwin at: http://www.bateman-litwin.com
Enquiries:
Investor Relations:
Ingrid Boon
Bateman Litwin Investor Relations Manager
Tel: +44 (0) 207 221 6219
Media:
Daniel Pollak
Litwin Communications Manager
Tel: +33 (0) 1 72 25 52 16
Brunswick Group LLP
Patrick Handley
Tel: +44 (0) 207 404 5959
Deborah Spencer
© Press Release 2007
