Saudi airports celebrate Kuwait’s National Day

Prince Mohammad Bin Abdulaziz Intl. Airport in Madinah.
Updated 28 February 2019

Saudi airports celebrate Kuwait’s National Day

Saudi Arabia’s General Authority of Civil Aviation (GACA) celebrated the 58th National Day of Kuwait on Monday, reflecting the deep relations between the two brotherly countries.

A number of events were held at international airport terminals across the Kingdom. Arriving and departing passengers were met with roses and staff members distributed the national flags of the two countries.

King Khalid International Airport in Riyadh received incoming passengers from Kuwait with flowers, flags and souvenirs.

This was in addition to a welcome message that was displayed on large screens inside the terminals. 

At King Abdul Aziz International Airport in Jeddah, departing and arriving passengers were presented with flowers, chocolates and flags of the two nations. 

In the Eastern Province, terminals at King Fahd International Airport in Dammam were decorated with the flags of the two countries to celebrate the occasion. A statement welcoming the passengers was displayed on screens.

Similarly, passengers arriving from Kuwait were greeted with flowers, flags of the two countries, chocolates and souvenirs at Prince Mohammed bin Abdul Aziz International Airport in Madinah and Taif International Airport.

“All these events were part of the celebrations at the Saudi airports in solidarity with our brothers from Kuwait on their national day and to share in their joy on this very special occasion,” a statement from GACA said.

Kuwait National Day is celebrated on Feb. 25 to mark the day when Sheikh Abdullah Al-Salem Al-Sabah ascended to the throne in 1950.

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.