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Home > News > Corporate news > 25th June, 2007
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25th June, 2007
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Litwin has signed a contract of US$525 million in Saudi Arabia
Litwin to lead a consortium to develop a US$525 million Phosphoric Acid Plant for Ma’aden, Saudi Arabia.
Litwin Europe Middle East B.V. is pleased to announce that it was awarded a contract for the development of a 1.5 million tonnes per annum fertilizer grade phosphoric acid plant for Ma'aden, a state-owned mining company in Saudi Arabia. This follows the successful completion of the first phase, announced on the 19th of July 2006, which focused on the basic design and finalisation of the project’s scope and costs.
Litwin will now commence the second stage – the project execution process, which is to be carried out on an EPC (Engineering, Procurement and Construction) basis. The plant will be one of the largest of its kind in the world. The total value of the contract is around US$525 million, of which Litwin’s share is slightly over US$330 million. The estimated time frame for the entire project is 34 months.
Max Abitbol, President and CEO of Litwin Europe Middle East, commenting on today’s announcement said:
“We are very pleased to lead the second stage of a phosphate project of such magnitude. This project further illustrates Litwin’s leading position in the industry and the Company’s ability to successfully utilise the synergies between project execution capabilities and advanced technology solutions. We believe this project can serve as a starting point for further expansion into the Saudi phosphate market.”
Three production lines for Wet Phosphoric Acid Process based on the Yara Hemi-hydrate process technology, will be installed. Litwin has selected Tekfen Construction and Installation Co. Inc to provide construction services for the plant under a consortium agreement.
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