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)
TT

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.



Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
TT

Türkiye TPAO, Shell Sign Deal to Carry out Exploration Work offshore Bulgaria

A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)
A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. (Reuters)

Türkiye Petrolleri (TPAO) has signed a partnership agreement with Shell to carry out exploration work in Bulgaria's maritime zone, the Turkish energy ministry and British oil major said on Wednesday.

European Union member Bulgaria, which had been totally dependent on Russian gas until 2022, has been seeking to diversify its gas supplies and find cheaper sources, Reuters reported.

TPAO and Shell will jointly explore the Khan Tervel block, located near Türkiye's Sakarya gas field, and will hold a five-year licence in Bulgaria's exclusive economic zone, Minister Alparslan Bayraktar said.

Shell will continue as operator of the block, while TPAO will take a 33% interest in the licence, a Shell spokesperson said.

Since the start of this year, TPAO has signed energy cooperation agreements with ExxonMobil, Chevron and BP for possible exploration work in the Black Sea and the Mediterranean.

In April, Shell signed a contract with Bulgaria's government to allow the oil major to explore 4,000 square metres in the block.


Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
TT

Saudia Signs Strategic Partnership Agreement with Six Flags and Aquarabia Qiddiya City

udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA
udia will develop special travel packages designed to enable visitors to experience world-class attractions - SPA

Saudia Airlines has signed a five-year strategic partnership with Six Flags and Aquarabia Qiddiya City, becoming the official premier partner exclusively in the airline category.

As part of the partnership, Saudia will develop special travel packages designed to enable visitors to experience world-class attractions. The collaboration also brings the spirit of Six Flags and Aquarabia Qiddiya City to the skies through special aircraft branding across Saudia’s fleet, SPA reported. 

Chief Marketing Officer of Saudia Group Khaled Tash said in a press release: "Saudia is committed to supporting national development projects as part of its contribution to Vision 2030, aligned with our strategy to bring the world to the Kingdom. Partnerships of this scale with national partners play a key role in positioning Saudi Arabia as a leading global destination for entertainment and tourism."

Park President of Six Flags and Aquarabia Qiddiya City Brian Machamer added: "Our partnership with Saudia not only reflects a shared ambition to connect the Kingdom to the world through world-class entertainment experiences, but strengthens our ability to attract visitors from around the world and realize our vision of setting a new global benchmark for immersive, world-class theme park entertainment and reinforcing Saudi Arabia’s growing presence on the global tourism stage."

Six Flags Qiddiya City sets a new benchmark for exceptional entertainment regionally and globally. Spanning six iconic themed lands, the theme park takes visitors on an immersive journey across 28 rides and attractions designed to world-class standards. Beyond the scale and diversity of its offerings, Six Flags Qiddiya City stands out for pushing the boundaries of engineering and entertainment, featuring five exclusive, record-breaking rides that have redefined global benchmarks. Leading these innovations is Falcons Flight, the roller coaster that has captured global attention as the fastest, tallest, and longest in the world.

Aquarabia Qiddiya City delivers a distinctive aquatic entertainment experience, offering 22 rides and water attractions, along with a man-made river designed for both relaxation and family-friendly water fun. For guests seeking privacy and elevated comfort, Aquarabia features 91 luxury cabanas, positioning the destination as a fully integrated leisure offering that redefines water-based entertainment to the highest international standards.

Located in the Tuwaiq Mountains near Riyadh, Qiddiya City is an emerging destination bringing together entertainment, sports, and culture. Six Flags and Aquarabia Qiddiya City form part of its entertainment offering.


Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
TT

Moody’s Establishes Regional HQ in Riyadh, Deepening Presence in Region

(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)
(FILES) Signage for Moody's Corporation is displayed at their headquarters at 7 World Trade Center on March 18, 2025 in New York City. (Photo by ANGELA WEISS / AFP)

Moody’s Corporation announced that it has established its regional headquarters in Riyadh, reflecting ongoing commitment to support the development of the Kingdom’s capital markets and economy.

“This investment aligns to the Kingdom's Vision 2030 initiative and underscores its dynamism and growth,” Moody’s said in a statement this week.

The new regional headquarters marks an expansion of Moody’s presence in Saudi Arabia, where the company first opened an office in 2018, and reflects its longstanding commitment to the Middle East.

“The headquarters will strengthen Moody’s engagement with Saudi institutions and enable broader access to Moody’s decision grade data, analytics and insights,” said the statement.

“Our decision to establish a regional headquarters in Riyadh reflects our confidence in Saudi Arabia’s strong economic momentum, as well as our commitment to helping domestic and international investors unlock opportunities with our expertise and insights,” said President and Chief Executive Officer of Moody’s Rob Fauber.

“We are well positioned to provide the analytical capabilities and market intelligence that investors and institutions need to navigate evolving markets across the Middle East,” the statement quoted him as saying.

Mahmoud Totonji will lead the regional headquarters as General Manager.