Estimated Cost of the Sabic/Maaden Phosphate Fertilizer Project Revised Up by 62% to 5.6 Billion

摘要

Between the announcement in March of the formation of a 70:30% joint venture between Saudi Arabian Mining Company(Maaden)and Saudi Basic Industries Corporation(Sabic)to develop a phosphate fertilizer complex at Ras al-Zour and the finalization of the joint venture agreement on 15 September,the estimated cost of the project was revised up by fully 62%,from SR 13 billion(3.5 billion)to SR 21 billion(5.6 billion).Maaden attributes that increase to cost inflation in the world construction industry.