Maaden set to pursue expansions in phosphate fertilizer market: CEO

Saudi Arabian Mining Company (Maaden) is looking to maintain expansions and enhance its presence as a global player in the phosphate fertilizer market, said president and chief executive officer Darren Davis.

“Maaden is ready to maintain growth and expansions. It has injected mega investments in various industrial projects in line with the highest international standards,” Davis added on the sidelines of the Future Investment Initiative (FII) 2018 held in Riyadh.

The company has set one of the best examples for successful privatization in Saudi Arabia, he said, adding that its partnerships with major global firms would allow it to achieve growth and economic diversification.

Maaden awarded Daelim Industrial Co Ltd and Daelim Saudi Arabia a SAR 3.35 billion EPC contract to build the first plant in the company’s third large-scale phosphate project (phosphate 3), Argaam earlier reported.

The project is expected to boost the company’s phosphate production capacity to nine million tons.