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Saudi Ma’aden To Shut Ammonia Plant For 30-Day Maintenance

Saudi Ma’aden To Shut Ammonia Plant For 30-Day Maintenance

The closure of the facility in Ras Al Khair belonging to Ma’aden Phosphate Company will have no significant financial impact.

Saudi Arabian Mining Co (Ma’aden) , the Gulf’s largest miner, said on Wednesday its subsidiary will shut down its ammonia plant from Jan. 23 for about 30 days for scheduled maintenance.

The closure of the facility in Ras Al Khair belonging to Ma’aden Phosphate Company would have no impact on the company’s ability to meet its obligations to its customers and have no significant financial impact, it said in a statement.

The company this week posted a fourth-quarter net profit of 376 million riyals ($100 million) as sales of most of its products grew, but its earnings fell short of analysts’ forecasts.

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