Riyadh – Mubasher: Saudi Arabian Mining Company (Maaden) has started developing its third project for manufacturing phosphate fertilizers, according to a bourse filing on Wednesday.
The project will be implemented in phases and eventually will add a further 3 million tons per year to the total production capacity.
The estimated costs for the project are SAR 24 billion approximately, said the company, revealing that full capacity could be reached in 2024.
This project is subject to the completion of feasibility studies and necessary consents, the bourse filing concluded.
