Saudi Arabian Mining Co. — Capital/Financing Update 2018

Oct 22, 2018

Saudi Arabian Mining Co. Announces Project Sign Off to DAELIM INDUSTRIAL LIMITED AND SAUDI DAELIM LIMITED

1211 · 22/10/2018 15:32:41 · Announcement #52338 · View on Saudi Exchange

Saudi Arabian Mining Co. Announces Project Sign Off to DAELIM INDUSTRIAL LIMITED AND SAUDI DAELIM LIMITED

Element List	Explanation
Date of announcement of the assignment	2018-10-22 Corresponding to 1440-02-13
Subject of contract	SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THAT IT IS DEVELOPING ITS THIRD AMMONIA PLANT WITH DAELIM INDUSTRIAL LIMITED AND SAUDI DAELIM LIMITED
Date of contract sign off	2018-10-22 Corresponding to 1440-02-13
Contract Value	SAR 3.35 billion
Contract Details	Saudi Arabian Mining Company (Ma’aden) announces that it has signed on 22nd October 2018 a contract with Daelim Industrial and Saudi Daelim Limited to construct a third ammonia plant as part of its previously announced Phosphate Three project. The plant will be constructed in Ras AlKhair Industrial City at an estimated cost of approximately 3.35 billion Saudi Riyals (USD 892 million).

Daelim Industrial and Saudi Daelim Limited will jointly carry out the engineering, procurement and construction for the project, which will be implemented over 38 months. The design capacity is approximately 1.1mt of ammonia per annum.

The ammonia plant is the foundation of multiple plants that Ma’aden plans to build to form a third phosphate complex with an estimated total cost 24 billion Saudi Riyals. This project is an additional milestone toward achieving the Kingdom’s vision 2030, and will amplify Ma’aden’s presence as a phosphate producer in world markets as well as its competitive advantage and leadership in this vital sector. Contract Duration 38 months The financial impact and period that this project will affect The Financial impact will begin by the second or third quarter after the expected completion date (38 months) in 2022. Related Parties Saudi Arabian Mining Company

DAELIM INDUSTRIAL LIMITED

SAUDI DAELIM LIMITED

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