Regions :: Middle East :: Saudi Arabia
Mosaic, Sabic and Ma'aden sign shareholders agreement for Saudi phosphate project
1:12 AM MDT | August 6, 2013 | Lindsay Frost
Mosaic says it has entered into a Shareholders' Agreement with Saudi Arabian Mining Co. (Ma'aden) and Sabic to participate in integrated phosphate production facilities in Saudi Arabia. This follows the signing in March of a Heads of Agreement. Ma'aden, Mosaic and Sabic will own 60%, 25% and 15% in the joint venture, respectively. The estimated $7 billion greenfield project, to be known as Wa'ad Al Shamal, or Northern Promise phosphate project, will be built in the northern region of Saudi Arabia at Wa'ad Al-Shammal Minerals Industrial City, and in Ras Al...
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