The agreements support the development of Ma’aden’s third phosphate fertilizer manufacturing project
GPCA member Saudi Arabian Mining Company (Ma’aden) has announced the signing of three major contracts worth a total of USD 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 USD 325 million (SAR1.22 billion) for a period of 22 months.
It has signed a second contract, for general construction works at Wa’ad Al Shamal (SAP/PAP & OSBL), with a branch of Sinopec Nanjing Engineering & Construction for approximately USD 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 USD 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 tons per year of production capacity. Costs are currently estimated at approximately SAR24 billion (USD 6.4 billion).
In other news, on 21 January Ma’aden signed a Memorandum of Understanding with US firm ElementUS about using its technology to extract minerals from waste streams.
ElementUS said it is committed to leveraging its technology in partnership with the Kingdom to create a global platform that valorizes waste from various tailings into wealth for the Kingdom, supports Saudi Arabia’s Vision 2030 and Critical Minerals Strategy, and secures a significant global market share for the Kingdom.
Source: Trade Arabia