Saudi Arabia’s King Salman bin Abdulaziz inaugurated the first phase of Waad Al-Shamal Industrial City project worth 55 billion Saudi riyals on Thursday.
The king will also lay foundation stones for the second phase projects and facilities worth 31 billion Saudi riyals ($826 mln) in Turaif governorate, Northern Border Region.
The completion of Saudi Arabia's Waad Al-Shamaal mining project will lift the kingdom’s phosphate fertilizer production to 9 million tonnes annually, Saudi Energy Minister Khalid al-Falih said.
“This will make the kingdom the second largest producer of phosphate fertilizers in the world,” al-Falih added.
The total cost of the first and second phase projects comes to $2.26 billion.
Waad Al-Shamal is an integrated mining city, located northeast of Turaif city in the Northern Border Region.