Saudi Maaden Nears Completion of First Phase of ‘Phosphate 3’

Saudi Arabia nears completion of the first project of the expansion of phosphate production. (Asharq Al-Awsat)
Saudi Arabia nears completion of the first project of the expansion of phosphate production. (Asharq Al-Awsat)
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Saudi Maaden Nears Completion of First Phase of ‘Phosphate 3’

Saudi Arabia nears completion of the first project of the expansion of phosphate production. (Asharq Al-Awsat)
Saudi Arabia nears completion of the first project of the expansion of phosphate production. (Asharq Al-Awsat)

The Saudi Arabian Mining Company (Maaden) has completed utilities commissioning on a $900 million ammonia plant in Ras al-Khair industrial City.

Construction completion is expected in the fourth quarter of 2021.

The ammonia plant is the first project in the $6.4 billion “Phosphate 3” expansion to Maaden’s phosphate fertilizer portfolio. It encompasses the full mine-to-market development process of phosphate fertilizers.

Maaden CEO Abdulaziz al-Harbi said described the project as a “tremendous milestone” for the company’s phosphate portfolio.

“The ammonia plant expansion will add over one million tons ammonia production to reach 3.3 million tons, making Maaden one of the largest ammonia producers east of the Suez Canal.”

The Phosphate 3 expansion will add three million tons of phosphate fertilizer production capacity to Maaden’s portfolio, bringing that to a total production capacity of more than 9 million tons.

The plan will put Maaden among one of the top three global phosphate fertilizer producers and Saudi Arabia the second largest phosphate fertilizer exporter worldwide.

Harbi asserted that Maaden has been moving ahead with the construction during the COVID-19 pandemic and thanks to the dedication of its team and partners, construction has been completed for the utility section and pre-commissioning activities started.

“Safety has remained a priority for us throughout the project and I am pleased to say that over 4,000 employees invested 14 million+ safe man-hours to deliver the construction on the Ammonia 3 project over 32 months,” Harbi added.

Maaden began commercial production of fertilizers in 2011 and has since become one of the top three largest producers of phosphate fertilizers globally, catering to the biggest fertilizer markets and meeting the food requirements of hundreds of millions of people.

It is committed to empowering farmers by providing high-quality products that improve crop quality and yield and supporting Saudi Arabia’s contribution to achieving global food security in line with the UN’s Sustainable Development Goals (SDG).

Maaden’s mine-to-market phosphate business consists of three mega projects: Waad al-Shamal which is the center of the Saudi phosphate industry; Ras al-Khair, a phosphate and bauxite processing superhub; and Phosphate 3.

In 2019, Maaden expanded its phosphate business in sub-Saharan Africa through the acquisition of fertilizer distribution company Meridian Group, enabling faster and better service for local customers in Africa.

In line with Maaden’s sustainability commitment, phosphate operations at Ras al-Khair Industrial City draw all its process water from one of the world’s largest desalination plants and utilize a natural engineered wastewater treatment (NEWT) system.

Between 60 to 80 percent of the treated water gets reused as process water and the rest for local landscape irrigation.

Separately, GE Renewable Energy’s Grid Solutions has won a deal from Doosan Heavy Industries and Construction to build a turnkey substation that will power the Yanbu-4 independent water producer (IWP) plant.

This is the first integrated, seawater reverse osmosis project in the Kingdom that uses clean energy and will be operational in 2023.

Yanbu-4 will have a capacity of 450,000 cubic meters per day of fresh water to be supplied to households in Makkah and Madinah.

CEO of GE’s Grid Solutions for the Middle East, North Africa, and Turkey Bernard Dagher noted that Yanbu-4 project is a major milestone in the development of the Kingdom’s water infrastructure.

“As a renewable energy-driven project, it meets the vision of the Saudi leadership to promote environmental sustainability, while meeting the growing demand for freshwater supply in the cities of Makkah and Madinah.”

Dagher indicated that the new project confirms the company’s ability to be a trusted partner in the infrastructure growth of the Kingdom, including in the delivery of turnkey substations for desalination plants

Desalination has proven a viable alternative to meet Saudi Arabia’s potable water requirements

A report by the UN University states that Saudi Arabia is the world’s largest desalination market, accounting for 22 percent of global production.

Reverse osmosis is the primary desalination process whereby water is pushed under high pressure through fine membranes to produce potable water.

The process of desalination is power-intensive, and GE’s Grid Solutions supports plants through its technology solutions.



Real Estate Balance Platform Regulates Market, Signals Positive Momentum in Riyadh Trading

The Saudi capital, Riyadh (Asharq Al-Awsat) 
The Saudi capital, Riyadh (Asharq Al-Awsat) 
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Real Estate Balance Platform Regulates Market, Signals Positive Momentum in Riyadh Trading

The Saudi capital, Riyadh (Asharq Al-Awsat) 
The Saudi capital, Riyadh (Asharq Al-Awsat) 

Following the Royal Commission for Riyadh City’ s announcement of the results of the electronic draw for purchasing residential land through the Real Estate Balance platform, Asharq Al-Awsat learned that some of the plots allocated to eligible beneficiaries will be sold at prices below SAR 1,500 (about $400) per square meter, depending on their locations.

The land distribution comes in implementation of directives issued by Crown Prince and Prime Minister Mohammed bin Salman to take the necessary steps to restore balance to Riyadh’s real estate sector.

Under these directives, the Royal Commission for Riyadh City is tasked with providing planned and developed residential land for citizens at a rate of between 10,000 and 40,000 plots annually over the next five years, at prices not exceeding SAR 1,500 per square meter.

On Wednesday, the Commission announced the issuance of the electronic draw results after completing all procedures related to verifying applicants’ eligibility and reviewing objections submitted ahead of the draw.

Competitive Prices

Real estate specialists told Asharq Al-Awsat that the Commission has allocated large tracts of land for sale to eligible beneficiaries in key locations within Riyadh’s urban fabric, noting that the move offers more choices at competitive prices and reflects positively on the overall real estate market in the Saudi capital.

They added that beneficiaries will be able to build homes at costs comparable to the prices of apartments currently offered for sale in northern Riyadh neighborhoods, which proved that the directives of Crown Prince Mohammed bin Salman have translated into tangible outcomes, enabling citizens to obtain their first homes at lower prices.

Price Decline

Real estate specialist Khaled Al-Mobid said that offering more than 6.3 million square meters of land this year through the Real Estate Balance platform aims to inject additional land within the urban area and increase housing supply with high planning quality. He described the step as important in curbing prices, which have risen recently in Riyadh.

He added that the rollout of further land areas through the platform over the next four years will help meet demand from young people and low-income segments, making affordable housing more accessible and facilitating first-home ownership.

Al-Mobid expected the Riyadh real estate market to see a correction in the coming years as the measures directed by the Crown Prince and Prime Minister are fully implemented by the relevant authorities.

Construction Costs

Another real estate specialist, Ahmed Omar Basodan, said that based on the announced locations for beneficiaries of the first batch, recipients will be able to own villas at prices lower than apartments currently offered for sale in the same neighborhoods. He explained that preliminary estimates put the combined cost of land purchase and construction at between SAR 900,000 and SAR 1.2 million.

He added that setting a ceiling price of SAR 1,500 per square meter for land will put downward pressure on prices in those areas, forcing them to retreat and become more affordable. Basodan noted that more than 10,000 plots have been allocated this year through the platform, supporting expanded housing supply, market stability, and improved quality of life.

Electronic Draw

In its latest statement, the Royal Commission for Riyadh City said the electronic draw was conducted under the supervision of an independent committee representing the Royal Commission, the Ministry of Justice, the General Real Estate Authority, Riyadh Municipality, and the Saudi Data and Artificial Intelligence Authority (SDAIA), using advanced technological systems to ensure fairness and equal opportunity.

The Commission confirmed that the final results are now available on the Real Estate Balance platform, detailing the locations of allocated plots totaling 6.3 million square meters across several Riyadh neighborhoods, including Al-Qirawan, Al-Malqa, Al-Nakheel, Al-Nargis, Namar, Al-Rimayah, Al-Rimal, and Al-Janadriyah.

 

 


EU-Mercosur Trade Deal Signing Delayed as Italy Demands More Time

Riot police intervenes during farmers' protest in Brussels, Belgium, 18 December 2025. EPA/OLIVIER MATTHYS
Riot police intervenes during farmers' protest in Brussels, Belgium, 18 December 2025. EPA/OLIVIER MATTHYS
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EU-Mercosur Trade Deal Signing Delayed as Italy Demands More Time

Riot police intervenes during farmers' protest in Brussels, Belgium, 18 December 2025. EPA/OLIVIER MATTHYS
Riot police intervenes during farmers' protest in Brussels, Belgium, 18 December 2025. EPA/OLIVIER MATTHYS

German Chancellor Friedrich Merz and EU executive chief Ursula von der Leyen expressed confidence on Friday that the European Union would be able to sign a contentious free trade agreement with South American bloc Mercosur in January, despite insufficient backing at an EU summit.

The European Commission president had been due to travel to Brazil for a signing ceremony on Saturday, but this was reliant on approval from a broad majority of EU members. A demand from Italy for more time meant it did not have enough support.

Von der Leyen still talked of a "breakthrough" after the summit ended early on Friday, Reuters reported.

"We need a few extra weeks to address some issues with member states, and we have reached out to our Mercosur partners and agreed to postpone slightly ‌the signature of ‌this deal," she told a press conference.

Brazilian President Luiz ‌Inacio ⁠Lula da Silva ‌told a press conference on Thursday he had learned of the delay of up to a month from Italian Prime Minister Giorgia Meloni and would consult Mercosur partners at their summit on Saturday on next steps.

Meloni said in a statement that Italy was ready to support the agreement once agricultural concerns were resolved, which she said could happen quickly.

Merz told reporters an extra few weeks for Meloni to win over her own government and parliament was not a problem. "This means that Mercosur can now definitely enter into force. Following the Italian government's approval, I remain hopeful that the French government may also decide to give its consent," he said.

Some 25 years in ⁠the making, the trade pact with Argentina, Brazil, Paraguay and Uruguay would be the EU's largest in terms of tariff cuts. Germany, Spain and Nordic countries say ‌it will boost exports hit by US tariffs and reduce reliance on China by ‍securing access to minerals.

But critics, including France and Italy, ‍fear an influx of cheap commodities that could hurt European farmers. The EU summit from Thursday sparked an anti-deal protest ‍by about 7,000 people, mostly farmers, which turned violent. Belgian police fired tear gas and water cannon after protesters hurled potatoes and rocks and smashed windows.

Poland and Hungary oppose the pact, while France and Italy remain nervous about increased imports of beef, sugar, poultry and other goods. The deal needs approval from EU governments, requiring a majority of 15 countries representing 65% of the bloc's population. Italy's stance is pivotal.

French President Emmanuel Macron, whose country is the EU's largest agricultural producer, said the agreement was unacceptable in its current form and that it was too early to say whether protections being ⁠put in place would meet France's conditions.

"We're not satisfied," he told a press conference. "We need to have these advances so that the text changes in nature, so that we can talk about a different agreement," he said.

In France, anger over the government's handling of lumpy skin disease, a virus affecting cattle, has deepened farmer discontent over issues including the Mercosur pact. Farmers in the southwest have blocked highways for days. Wary of nationwide protests like those two years ago, Paris is rushing to vaccinate cattle while maintaining its opposition to the deal.

EU lawmakers and governments reached a provisional agreement on Wednesday on safeguards to cap imports of sensitive farm products such as beef and sugar and soften resistance. The European Commission is also preparing a declaration pledging aligned production standards.

Macron said reciprocity was essential so the EU did not open its markets to cheap imports produced under looser rules, such as pesticide use.

Some tractors that jammed Brussels streets on Thursday carried banners echoing Macron’s skepticism.

"Why import sugar from the other side of the world when we produce the ‌best right here? Stop Mercosur," read one sign.


TikTok Signs Deal to Sell US Entity to American Investors

FILE – In this July 21, 2020 file photo, a man opens social media app ‘TikTok’ on his cell phone, in Islamabad, Pakistan. (AP Photo/Anjum Naveed, File) 
FILE – In this July 21, 2020 file photo, a man opens social media app ‘TikTok’ on his cell phone, in Islamabad, Pakistan. (AP Photo/Anjum Naveed, File) 
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TikTok Signs Deal to Sell US Entity to American Investors

FILE – In this July 21, 2020 file photo, a man opens social media app ‘TikTok’ on his cell phone, in Islamabad, Pakistan. (AP Photo/Anjum Naveed, File) 
FILE – In this July 21, 2020 file photo, a man opens social media app ‘TikTok’ on his cell phone, in Islamabad, Pakistan. (AP Photo/Anjum Naveed, File) 

TikTok's Chinese owner ByteDance signed binding agreements to form a joint venture that will hand control of operations of TikTok's US app to American and global investors, according to a memo by TikTok CEO Shou Zi Chew seen by Reuters.

The deal, set to close on January 22, would end years of efforts to force ByteDance to divest its US business over national security concerns.

According to an internal memo cited by Bloomberg and Axios, TikTok CEO Shou Chew told employees that the social media company as well as its Chinese owner ByteDance had agreed to the new entity, with Oracle, Silver Lake and Abu Dhabi-based MGX on board as major investors.

Oracle’s executive chairman and founder Larry Ellison is a longtime ally of US President Donald Trump.

Chew said that ByteDance will retain around 20% of the new joint venture — the maximum ownership allowed for a Chinese company under the law.

The deal largely confirms a September announcement by the White House that said the new venture would meet the requirements of a 2024 law that threatened to ban the wildly popular app in the United States if ByteDance stayed majority owner.

The new set-up for TikTok is in response to a law passed under Trump’s predecessor, Joe Biden, that has forced ByteDance to sell TikTok’s US operations or face a ban in its biggest market.

US policymakers, including Trump in his first presidency, have warned that China could use TikTok to mine data from Americans or exert influence through its state-of-the-art algorithm.

Chew said the US joint venture would operate as an independent entity with authority over “US data protection, algorithm security, content moderation and software assurance.”

Trump in September had specifically named Oracle boss Ellison, one of the world’s richest men, as a major player in the arrangement.

Ellison has returned to the spotlight through his dealings with Trump, who has brought his old friend into major AI partnerships with OpenAI.

Ellison has also financed his son David’s recent takeover of Paramount and is involved in his son’s bidding war with Netflix to take over Warner Bros.