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Mosaic (MOS -0.3%) plans to invest up to $1B in a joint venture to produce phosphate in Saudi...

  • Tuesday, March 19, 11:23 AM ET
    Mosaic (MOS -0.3%) plans to invest up to $1B in a joint venture to produce phosphate in Saudi Arabia, a move that would improve its access to agricultural markets in Asia. The $7B project, planned to produce 3.5M metric tons of finished product annually, will be 60% owned by Saudi Arabian mining and metals company Ma'aden; MOS will own 25%.
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This news story has 2 comments:

  •  
    Saudis are smart. Instead of refining the oil, make fertilizer.
    19 Mar, 11:29 AM Reply Like
  •  
    Yes they are. With the EV transportation push, along with, hopefully, the Keystone pipeline being built, they are at that. MOS said that they were going to be the leader in this area, so I am happy to hear about this. MOS has a rock solid balance sheet so borrowing cost shouldn't be an issue.
    19 Mar, 12:36 PM Reply Like
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