Maaden temporarily shuts down ammonia plant on technical failure

Maaden building

Saudi Arabian Mining Co. (Maaden) announced that the ammonia plant of Maaden Phosphate Co. (MPC) encountered a technical deficiency in one of its parts on the evening of May 20, 2021.

This resulted in a limited fire that was fully controlled, the company said in a bourse statement.

The management decided for an unscheduled shutdown of the plant as a precautionary measurement. No casualties were reported due to the incident.

The temporary shutdown will not impact the company’s ability to produce phosphate or to fulfill its obligations towards its customers.

Preliminary estimates of the financial impact indicate that the shutdown is limited and does not constitute a material impact.

The company is currently working on estimating the period that is required for resuming the plant and assessment of the financial impact of this unscheduled shutdown.

Upon completion of the final estimates, Maaden will announce the duration and impact of this shutdown, and any other developments.

According to data compiled by Argaam, MPC is a limited liability company co-owned by Maaden (70%) and Saudi Basic Industries Corp (SABIC) (30%).