SABIC, Maaden JV Starts Initial Production

Saudi Arabian Mining (Maaden) has said its phosphate joint venture with Saudi Basic Industries Corp (SABIC) started initial production on Friday.       

"Maaden today announces that Maaden Phosphate Company (MPC) yesterday (Friday) has started initial production from the first production lines of sulfuric acid, phosphoric acid for captive use and Diammonium Phoshate Fertilizer (DAP)," Maaden said in a bourse statement on Saturday.       

SABIC owns 30% in the joint venture, while Maaden holds the remainder.       

The joint venture will produce about 3 million tons per year of DAP when it reaches full production, the statement said.