Saudi Maaden awards USD2.26 b contracts for Canadian, Asian companies

(MENAFN) Canadian and Asian companies have been awarded with USD2.26 billion worth of contracts by Saudi Arabian Mining Company (Maaden) for a new phosphate mining and production project, according to Arab News. Maaden, Saudi Basic Industries Corp. and Mosaic have signed a joint venture to build the project in Waad Al-Shimal City in the north of Saudi. Canada's SNC Lavalin and China"s Sinopec Engineering Group have won a USD762 million deal to build a power plant and a sulfuric acid plant.