Maaden signs EPCM contract worth SAR 1.04 bln for phosphate 3 project

Maaden’s storage tanks

Saudi Arabian Mining Co. (Maaden) signed an engineering, procurement and construction management (EPCM) contract with WorleyParsons Arabia Ltd. and JESA S.A., the company said in a statement to Tadawul.

Under the SAR 1.04 billion contract, WorleyParsons and JESA will provide engineering, procurement, and construction management services for the construction of phase 1 of the phosphate 3 project.

The project will produce 1.5 million tons per annum of phosphate fertilizers. In addition, an integrated production complex will be built in Wa’ad Al Shamal (WAS) and Ras Al-Khair (RAK) industrial cities.

The contract duration is 42 months, the company said, adding that the financial impact will appear after construction is complete and production begins.

The deal does not have any related parties, the company noted.