maaden signs major agreements with us firms alcoa mosaic
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Maaden signs major agreements with US firms Alcoa, Mosaic

Arab Today, arab today

Arab Today, arab today Maaden signs major agreements with US firms Alcoa, Mosaic

agreements were signed at the Saudi-US CEO Forum
Riyadh - Arab Today

Saudi Arabian Mining Company Maaden has signed “landmark” memorandums of understanding (MoU) with the US-based companies Alcoa and Mosaic, according to a statement.
The agreements, signed at the inaugural Saudi-US CEO Forum in Riyadh, will help tap the Saudi mining sector’s significant potential, it was announced.
Maaden and Alcoa announced that they would assess the feasibility of an expansion of a smelting capacity in Saudi Arabia. They previously developed an aluminum production complex in Ras Al-Khair Industrial City.
Since it was formed by the partners in 2009, the Maaden-Alcoa joint venture complex has made a contribution of approximately $4 billion to Saudi Arabia’s gross domestic product (GDP), the statement said. The joint venture supports 3,500 direct jobs and 12,000 indirect jobs. If the expansion were to proceed, primary aluminum capacity could be increased by 600,000 metric tons annually and result in over 3,000 high quality direct and indirect jobs.
Maaden and Mosaic announced an MoU to further highlight and commemorate the partnership between the two mining and fertilizer businesses. The MoU contemplates several areas of potential collaboration in the phosphate business in Saudi Arabia. Mosaic, Maaden and their partner SABIC have already invested about $8 billion in developing the project.
Maaden is advancing a third project for the manufacture of phosphate fertilizers in the Kingdom. The project, which is anticipated to be implemented in phases starting production early in the next decade, envisions adding up to an additional 3 million tons per year of production capacity with a total investment estimated to be $6.4 billion.
The project is subject to the completion of definitive studies and obtaining necessary board approvals and consents. Estimated benefits from the project include a GDP contribution of about $2.4 billion and total employment of 7,000, many of which would be high quality jobs.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

maaden signs major agreements with us firms alcoa mosaic maaden signs major agreements with us firms alcoa mosaic

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

maaden signs major agreements with us firms alcoa mosaic maaden signs major agreements with us firms alcoa mosaic

 



GMT 20:53 2018 Monday ,22 October

PM Imran Khan to leave for Saudi Arabia today

GMT 08:20 2018 Tuesday ,16 January

Lamborghini races to new sales record

GMT 00:19 2017 Wednesday ,13 December

Switzerland chainsaw attack: 5 hurt in Schaffhausen

GMT 09:51 2017 Tuesday ,07 November

Broadcom makes $130 bn mega-bid

GMT 20:53 2017 Tuesday ,07 March

Syrian forces retake Aleppo water-pumping station

GMT 11:15 2017 Monday ,01 May

Hanan Metawe reveals details of her accident

GMT 03:07 2017 Monday ,27 March

Bulgaria's Borisov bounces back again

GMT 22:18 2017 Thursday ,16 November

Hariri to arrive in France Saturday to meet Macron

GMT 06:43 2017 Monday ,13 February

Pakistan retaliates after US denies politician visa

GMT 07:49 2017 Tuesday ,28 November

Hussein Fahmy underlines financial sources
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday