Saudi in ammonia venture with Korea's Samsung
Tuesday, 10 July 2007
RIYADH, July 9 (AFP): State-owned Saudi Arabian Mining Co (Maaden) said yesterday it had reached a deal with South Korea's Samsung Engineering for a 960-million-dollar ammonia plant for fertilizer.
Maaden said construction of the 3,300 tonne-a-day plant on the Gulf would begin in the final quarter of the year and be completed in 2010 as part of what it described as the world's largest integrated phosphate project.
"The output of Maaden's phosphate project will represent about 10 per cent of the world's global traded supply of DAP (di- ammonium phosphate) fertilizer and will be essential for growing crops to feed the world for decades to come," it said.
Maaden said construction of the 3,300 tonne-a-day plant on the Gulf would begin in the final quarter of the year and be completed in 2010 as part of what it described as the world's largest integrated phosphate project.
"The output of Maaden's phosphate project will represent about 10 per cent of the world's global traded supply of DAP (di- ammonium phosphate) fertilizer and will be essential for growing crops to feed the world for decades to come," it said.