Brief: Saudi's Ma'aden To Develop Third Ammonia Plant With Daelim Industrial, Saudi Daelim

DL Holdings

22/10/2018 13:35

Oct 22 (Reuters) - SAUDI ARABIAN MINING CO  1211.SE :
    * ANNOUNCES PROJECT SIGN OFF TO DAELIM INDUSTRIAL LIMITED
AND
SAUDI DAELIM LIMITED
    * DEAL VALUE SAR 3.35 BILLION
    * ANNOUNCES THAT IT IS DEVELOPING ITS THIRD AMMONIA PLANT
WITH
DAELIM INDUSTRIAL LIMITED AND SAUDI DAELIM LIMITED
    * FINANCIAL IMPACT WILL BEGIN BY THE SECOND OR THIRD QUARTER
AFTER
THE EXPECTED COMPLETION DATE (38 MONTHS) IN 2022
    * PLANT WILL BE CONSTRUCTED IN RAS ALKHAIR INDUSTRIAL CITY
    * DAELIM INDUSTRIAL AND SAUDI DAELIM LIMITED WILL JOINTLY
CARRY
OUT ENGINEERING, PROCUREMENT AND CONSTRUCTION FOR PROJECT
    * PROJECT  WILL BE IMPLEMENTED OVER 38 MONTHS
    * DESIGN CAPACITY IS APPROXIMATELY 1.1MT OF AMMONIA PER
ANNUM
    * AMMONIA PLANT IS FOUNDATION OF MULTIPLE PLANTS THAT
MA’ADEN
PLANS TO BUILD TO FORM A THIRD PHOSPHATE COMPLEX WITH AN
ESTIMATED TOTAL COST 24 BILLION RIYALS

Source:(https://bit.ly/2CYYwSu)
Further company coverage:  1211.SE 

 ((Reuters.Briefs@thomsonreuters.com;))