Error message

  • Warning: mysqli_connect(): php_network_getaddresses: getaddrinfo failed: Name or service not known in include() (line 276 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.constructionweekonline.com.settings.php).
  • Warning: mysqli_connect(): (HY000/2002): php_network_getaddresses: getaddrinfo failed: Name or service not known in include() (line 276 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.constructionweekonline.com.settings.php).
  • Warning: mysqli_close() expects parameter 1 to be mysqli, boolean given in include() (line 300 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.constructionweekonline.com.settings.php).

Ma'aden gains $2bn for phosphate complex

Saudi's Public Investment Fund provides 17-year loan for mega-project

Photo for illustrative purposes.
Photo for illustrative purposes.

RELATED ARITCLES: Maaden signs $3.7bn of phosphate complex dealsMaaden shareholders deal for $7bn phosphate plantSaudi's Maaden seeks funding for $7.5bn project

Ma'aden, the Saudi Arabian Mining Company, has announced that the country's Public Investment Fund has provided $2bn to fund the development of its Waad Al Shamal Phosphate complex in the north of the country.

The complex, which is being built under the responsibility of the Royal Commission for Jubail & Yanbu, is a joint venture between Ma'adaen, Saudi Basic Industries and the Mosaic Company.

Ma'aden said the $2bn will be in the form of a 17-year loan which will be paid in six-monthly instalments with a five-year grace period.

In February, some $90.6bn worth of deals were signed to develop different parts of the complex, including a $500mn deal for a sulphuric acid plant to be built by SNC Lavalin and Sinopec of China, and a $900mn-plus deal for a new phosphoric acid plant being built by Hanwha Engineering & Construction of South Korea.

Other deals signed included deals for an ammonia plant and a fertiliser facility.

Most popular

Awards

CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that

Conferences

Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020