Saudi Arabian Mining Company (Ma'aden) won the prestigious "2014 Industrial Deal of the Year" Award for the Middle East and North Africa from Project Finance International Magazine at a ceremony attended by global finance institutions in London on February 4th. The Award was given due to success of Ma'aden in signing of long term project financing loans for its affiliate the Wa'ad Al Shamal Phosphate Company from 20 global financial institutions for a total amount of SR18.9 billion ($5.04 billion). In a statement to Saudi Press Agency (SPA), Ma'aden Chief Financial Officer Khalid Al-Rowais said: "we are very pleased to receive this honor from an organization as prestigious as project Finance International. Ma'aden received commitments from financial institutions that were considerably in excess of the fund required, reflecting the quality of the Wa'ad Al Shamal project as well as the excellent track record Ma'aden has established in the financing market." The Wa'ad Al Shamal Phosphate Company is a joint venture among Ma'aden (60%), the Mosaic Company (25%) and SABIC (15%).
