Saudi Chemical Co. has entered into an agreement to build a groundbreaking facility for the production of ammonium nitrate and nitric acid in Ras Al Khair. Teaming up with Dyno Nobel through its subsidiary, Saudi Chemical Co. aims to bolster crucial sectors and strategic projects in line with the Kingdom's Vision 2030, as outlined in the company's Tadawul statement. The initiative focuses on domesticating the manufacturing of essential raw materials for both civil and military explosives, contributing to innovative solutions for Saudi Arabia's defense and mining industries.
The company emphasized that the memorandum of understanding spans a six-month period, during which there will be a comprehensive examination of the project's initial studies and financial model. Moreover, a specialized engineering firm will be responsible for creating preliminary designs, ultimately leading to a conclusive assessment of the project's viability. Thamer Al-Muhid, the group CEO and managing director of Saudi Chemical Co., expressed pride in collaborating with Dyno Nobel, combining expertise and resources to advance the implementation of the ambitious Vision 2030 programs in the country.
He further commented, stating, "We have faith that this partnership will stimulate innovation, generate value, and contribute to the growth and domestication of the industrial sector in the Kingdom". The company noted that the financial implications of this collaboration will be assessed at a later date. Simultaneously, Saudi Chemical Co. inked a Memorandum of Understanding (MoU) with mining company Moxico Resources and Ajlan & Bros to provide blasting materials and services for the Al-Khunayqiyah mine owned by the latter.