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Ma'aden, Sabic form JV
- Saudi Arabia: Monday, March 12 - 2007 at 16:56
Ma'aden and the Saudi Basic Industries Corporation have agreed a strategic joint venture focusing on a phosphate minerals project. Total capital investment in the project will be $3.5bn; Sabic will have a 30% equity share with the 70% balance being retained by Ma'aden. The project aims to utilise phosphate reserves in the north of Saudi Arabia to produce phosphate fertilisers in the Minerals Industrial City at Ras Az Zawr.
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Jonathan Sheikh-Miller, Deputy EditorMonday, March 12 - 2007 at 16:56 UAE local time (GMT+4)
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This article was updated on Sat Apr 07 2007.
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