The Northern Borders Province inaugurated projects worth a combined SAR 29 bn at the Wa’ad Al Shamal City for Mining Industries, state news agency SPA reports. These include Saudi Arabia Mining’s (Ma’aden) Wa’ad Al Shamal Phosphate 3 project — worth some SAR 28 bn — as well as a host of industrial, logistical, and service projects from Modon, with a combined value of SAR 550 mn.

The big ticket: Construction work kicked off at Phosphate 3 — which was among 12 private-sector projects selected for government incentives and support in 2023 under the Shareek program. The new mining hub is set to push Saudi’s phosphate production capacity to 9 mn tons per year, up from a combined capacity of 6 mn tons from Phosphate 1 and Phosphate 2.

ICYMI- Saudi Arabian Mining (Ma’aden) signed three construction agreements worth over USD 922 mn for its third phosphate fertilizers project in Wa’ad Al Shamal and Ras Al Khair last January. The contracts came a month after the PIF-backed company acquired Mosaic Phosphates BV’s full 25% stake in the Ma’aden Wa’ad Al Shamal Phosphate Company joint venture, raising Ma’aden’s ownership in the JV to 85%.

MEANWHILE- The Saudi Authority for Industrial Cities and Technology Zones (Modon) is kicking off industrial, logistical, service, and infrastructure projects worth a combined SAR 550 mn at Wa’ad Al Shamal. The projects include developments over a 4.3 mn area to attract investments, ready-made factories and support units, substations and overhead transmission lines, and a 7 km bridge connection to the International Road.

Living quarters are also getting an upgrade: The province also inaugurated expansion works at Ma’aden’s residential city in Wa’ad Al Shamal, where developments will see the addition of three buildings with 32 units. These come on top of 483 units representing the first phase of residential facilities in the city. The investment ticket for these expansions was not provided.

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