Ma'aden to Build a New Phosphate Fertilizer Manufacturing Complex in Saudi Arabia

Saudi Arabia: Ma'aden, a Saudi Arabian Mining Company, has announced plans to invest around USD6.4 billion for the establishment of a phosphate fertilizer manufacturing complex with a capacity of 3 million metric tons per annum. The project is projected to reach its full capacity by 2024 and is expected to be executed in phases. The company is involved in the manufacturing of mono- and diammonium phosphate (DAP) and has plans to introduce new phosphate compounds.

TechSci Research depicts that the development of a new phosphate fertilizer manufacturing complex in Saudi Arabia is anticipated to boost the phosphate fertilizer production in the country in addition to strengthening Ma’aden’s position in the global phosphate market.

 According to the recently published report by TechSci Research, “India Phosphoric Acid Market, By Grade (Fertilizer and Technical), By Application (Fertilizers, Pharmaceutical, Food & Beverage etc.), By Region, Competition Market Forecast & Opportunities, 2011-2021”, the country’s phosphoric acid market is projected to grow at a CAGR of more than 7% during 2016 - 2021. Fertilizers grade dominates India phosphoric acid market, with the segment accounting for a share of more than 90% in 2015. Fertilizer grade phosphoric acid is expected to continue its dominance in the coming years on account of growing demand for phosphatic fertilizers such as DAP, MAP, SSP, etc.