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Addendum Announcement from Saudi Arabian Mining Company (Ma'aden) Regarding its Announcement of the Latest Developments Regarding the Developing its Third Project for the Manufacture of Phosphate Fertilizers.
| Element List | Explanation |
|---|---|
| Introduction | Referring to Saudi Arabian Mining Company (Ma'aden) announcement dated 16/07/1446 H (corresponding to 16/01/2025 G), which includes the latest developments regarding the developing its third project for the manufacture of phosphate fertilizers. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2025-01-16 Corresponding to 1446-07-16 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | Maaden would like to clarify the following to its shareholders: 1- The contracts mentioned in the previous announcement were signed on 16/07/1446 H corresponding to 16/01/2025 G. 2- All contracts do not have related parties. 3- The financial impact of these contracts is not clear to us, and it will be disclosed when available. The company would like to provide its shareholders with the duration of the contracts concluded and announced as follows: • General construction works at Ras Al Khair with China National Chemical Engineering Company branch for an amount of approximately $325 million (equivalent to approximately 1,220 million SAR) for a period of 22 months • General construction works at Wa'ad Al Shamal (SAP/PAP & OSBL) with branch of Sinopec Nanjing Engineering & Construction Inc. for an amount of approximately $363 million (equivalent to approximately 1,361 million SAR) for a period of 18 months • General construction works at Wa'ad Al Shamal (Benefitiation) with Tekfen Construction and Installation Co., Inc for an amount of approximately $234 million (equivalent to approximately 877 million SAR) for a period of 18 months |
| Financial Impact on the change | There is no financial impact on the change and the financial impact of these contracts is indicated within the change on the development. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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