Riyadh - Mubasher: Aldrees Petroleum and Transport Services Co. (ALDREES) said it signed an agreement worth SAR597m with Maaden Waad AlShamal for Phosphate Co.

Under the agreement, Aldrees will carry out the transportation of Molten Sulphur & Phosphoric Acid via trucks.

The financial impact of this deal will start by the first quarter of 2017.

Saudi Arabian Mining Company (Maaden), Mosaic Company and Saudi Basic Industries Corporation (SABIC) own 60%, 25% and 15% respectively of the joint venture developing the Waad Al Shamal Phosphate project.