Middle East Economic Survey

VOL. XLVIII

No 14

4-April-2005

SAUDI ARABIA

MaadenAgrees $2Bn Investment In Phosphate Project

The Saudi Arabian Mining Company (Maaden), at a board meeting on 27 March chaired by its chairman and Minister of Petroleum and Mineral Resources Ali Naimi, authorized investment of SR7.77bn ($2.1bn) on a planned project to exploit the vast deposits of phosphate in al-Jalamid region in the remote far north of the kingdom. Maaden decided to press ahead with the scheme on the...