The Saudi Arabian Mining Co. (Ma’aden), Riyadh, said it has awarded Daelim with a Sar3.35 billion ($892 million) engineering, procurement and construction (EPC) contract to build an ammonia plant at Ras Al-Khair on the eastern coast of Saudi Arabia. The new facility is the first plant to begin construction at the company’s planned third large-scale phosphate complex, ‘Phosphate 3.’
Upon completion of Phosphate 3, Ma’aden will increase its capacity to supply phosphate fertilizer to global markets by 3 million mt/y, with total production capacity of nearly 9 million mt/y, making Saudi Arabia the world’s third largest producer of phosphate fertilizer and the second largest exporter, the company said.
Daelim Industrial Co. Ltd., South Korea, and Saudi Daelim Ltd. will jointly carry out the EPC for the construction of the 1.1 million mt/y ammonia plant, which will be implemented over 38 months.
The Phosphate 3 project is expected to cost Sar24 billion ($6.4 billion), and generate non-oil GDP growth of Sar25 billion ($ 6.7 billion) and approximately 7,000 direct and indirect jobs.