Saudi Ma'aden says hires Korea's Daelim to build 3.35 bln riyal ammonia plant

DL Holdings

22/10/2018 13:59

DUBAI, Oct 22 (Reuters) - State-run Saudi Arabian Mining
Company (Ma'aden) plans to build a third ammonia plant in at a
cost of about 3.35 billion Saudi riyals ($893 million),
according to a bourse statement on Monday.
    Ma'aden said it signed a contract with South Korea's Daelim
Industrial and its Saudi unit for the engineering, procurement
and construction of the plant in Ras al-Khair, on the kingdom's
Gulf coast. Works will take over 38 months, the statement said.
    The ammonia plant is one among multiple plants Ma'aden plans
to develop to for a third phosphate complex that is estimated to
cost 24 billion riyals, Ma'aden added.
    
    
    

($1 = 3.7518 riyals)

 (Reporting by Hadeel Al Sayegh)
 ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))