Maaden's Subsidiary obtains loans amounting to SR 4 Billion

07/01/2016 13:22 AST

SIDF in proportion to their shareholding in MWSPC.

The provision of these four loans is subject to finalizing binding loan agreements. The loans will complete the debt financing of MWSPCs phosphate project located in Waad Al Shamal and Ras Al-Khair following the loans provided by financial institutions and the Public Investment Fund in 2014.

Further substantial developments will be announced in due course, if any.

Saudi Arabian Mining Company (Maaden), The Mosaic Company and Saudi Basic Industries Corporation (SABIC) own 60%, 25% and 15% respectively of the joint venture developing the Waad Al Shamal Phosphate project.


SPA

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