Saudi Arabian Mining Company (Maaden) has announced the signing of three major contracts worth a total of $922 million related to the development of its third phosphate fertilizer manufacturing project.

The company has signed a contract for general construction works at Ras Al Khair with China National Chemical Engineering Company branch for approximately $325 million (SAR1.22 billion) for a period of 22 months.

It has signed the second contract, for general construction works at Wa'ad Al Shamal (SAP/PAP & OSBL), with branch of Sinopec Nanjing Engineering & Construction for approximately $363 million (SAR1.361 billion) for a period of 18 months

The third contract is for general construction works at Wa'ad Al Shamal (Benefitiation) with Tekfen Construction and Installation Company for approximately $234 million (SAR877 million) for a period of 18 months.

The project is expected to be implemented in phases and eventually will add a further 3 million tonnes per year of production capacity. Costs are currently estimated approximately SAR24 billion ($6.4 billion).

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