Topaz Energy and Marine committed to Saudization

The trainees along with the staff of the Faculty of Maritime Studies of the King Abdulaziz University and Topaz senior management, Paul Jarkiewicz, regional director — MENA & Subsea, and Willem de Vries, country manager — Saudi Arabia.
Updated 15 July 2017

Topaz Energy and Marine committed to Saudization

Topaz Marine KSA Co. Ltd. has welcomed 25 Saudi graduates from the Faculty of Maritime Studies of King Abdulaziz University (KAU), to receive their practical training on-board Topaz vessels in Saudi Arabia. Topaz Marine is a fully-owned subsidiary of Topaz Energy and Marine, a UAE-based and a leading international offshore support vessel owner.
The Saudi graduates have recently completed the three-month “Rating forming part of a Navigational Watch” training offered by the KAU and sponsored by Topaz. The company is now welcoming the cadets to the next and final stage in the formal training program, which is a two-month practical work experience on-board Topaz vessels. Subject to the successful completion of the Topaz practical work experience, the trainees will be awarded the STCW AII/4 “Certificate of Competency” by the Saudi Maritime Authorities and will be qualified to work as seamen.
René Kofod-Olsen, CEO of Topaz Energy and Marine, said: “We are committed to help develop local talent in Saudi Arabia and make a positive contribution to the Kingdom’s maritime industry, for which we see good growth opportunities.
Our practical work experience program is designed to help passionate Saudi graduates begin a successful career in the Saudi maritime industry.” The practical experience program for Saudi graduates is part of a strategic agreement with the Faculty of Maritime Studies of the KAU in Jeddah.
Following a memorandum of understanding (MoU) signed with the KAU in December 2014, Topaz has been providing cadet-seats on board of its vessels, which is part of the formal officer-training program for students graduating from the Faculty of Maritime Studies.

Ma’aden acquisition supports Vision 2030

Updated 24 April 2019

Ma’aden acquisition supports Vision 2030

The acquisition of an African fertilizer distribution company by Ma’aden, the largest Saudi mining company, will advance Ma’aden’s Strategy 2025, which includes plans to expand operations in the Kingdom and grow sales globally. The acquisition will also support Saudi Arabia’s Vision 2030, which seeks to diversify the economy, increase non-oil exports, boost the Kingdom’s non-oil GDP, and reinforce the mining sector as the third pillar of Saudi industry, after oil and gas and petrochemicals. 

Ma’aden will make its first international acquisition with the purchase of the Mauritius-based Meridian Group, which is due to be completed by September for an undisclosed fee.

The publicly-listed Saudi mining company will acquire an 85 percent stake in the company in an all-cash deal that will provide one of the Middle East’s largest phosphate producers with 3,000 staff and a network of operations across southern Africa, from Malawi to Mozambique, Zimbabwe and Zambia. Phosphate is used to produce fertilizer that is essential in replacing the phosphorous mineral that is removed from soil when agricultural crops are harvested. 

“This acquisition marks a very important step in Ma’aden’s strategy to build global distribution channels for our fertilizer products,” said Darren Davis, president and chief executive of Ma’aden. “As we continue to build one of the largest producers and exporters of phosphate fertilizers in the world, ensuring an efficient route to key growth markets is critical to our success.” 

Agriculture forms a significant portion of the economies of all African countries. As a sector, it can therefore contribute to major continental priorities, such as eradicating poverty and hunger. The agri industry can also boost intra-Africa trade and investments, rapid industrialization and economic diversification, sustainable resource and environmental management, and create jobs, human security and shared prosperity.

The Southeast African market, like most of the African continent of 1 billion people, is experiencing increased demand for phosphate fertilizers which industry analysts expect to continue growing by 5 percent annually over the next decade, fueled by population growth and increasing education in the use of fertilizers.

“Ma’aden is acquiring unparalleled access to complementary distribution, blending and product-development capabilities in this fast-growth region,” said Hassan Al-Ali, Ma’aden’s senior vice president for phosphate. “This transaction will provide us with logistics advantages in Southeast Africa, and greater knowledge of on-the-ground customer requirements, both of which will be instrumental in better serving our customers.”

The Saudi global mining giant will secure the remaining 15 percent of Meridian’s equity over four years on agreed terms linked to the performance of the African company, which distributes approximately half-a-million tons of fertilizer through its network of granulation and blending plants, warehousing complexes and port facilities. 

HSBC acted as Ma’aden’s financial adviser on the deal and Baker McKenzie was the Saudi company’s legal adviser for this acquisition.