Saturday, 21 October 2017 08:25 GMT
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Saudi Ma'aden signs USD5m deal to refinance its phosphate project

(MENAFN) Saudi Arabian Mining Co (Ma'aden) has signed a USD5 billion deal with commercial banks and a state-owned investment fund to refinance its phosphate production project, according to Arabian Business



The project is a joint venture between Ma'aden, Saudi Basic Industries Corp, and Mosaic, and is part of a wider plan to develop the kindom"s industry beyond oil refining and export



A total of 16 local and international commercial banks, and three export credit agencies, as well as the Public Investment Fund (PIF) signed the financing agreement on June 30


Saudi Ma'aden signs USD5m deal to refinance its phosphate project