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Ma'aden, Mosaic, and Sabic sign agreement for $7-billion phosphate complex in Saudi Arabia
8:57 AM MDT | March 19, 2013 | Natasha Alperowicz
The Mosaic Co. has entered into a heads of agreement with the Saudi Arabian Mining Co. (Ma'aden) and Sabic under which the companies intend to establish a joint venture to develop integrated phosphate production facilities in Saudi Arabia, the companies announced today. Ma’aden is expected to hold 60%, Mosaic 25%, and Sabic 15% in the jv. The greenfield project, Wa’ad Al Shammal phosphate project, will require an investment of approximately $7 billion. It is expected to be built at the Wa'ad Al Shammal Minerals Industrial City, in the northern...
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