Saudi Arabian Mining Company (Maaden) [1211.SE] has announced that its subsidiary Maaden Waad Al Shamaal Phosphate Company (MWSPC) had obtained the approval of the Saudi Industrial Development Fund (SIDF) for four long term loans for the total amount of SAR4 billion. According to the announcement, the loans will be broken down as follows: i) a loan facility worth SAR900 million to finance the construction of MWSPC's ammonia plant, which will be repaid in 14 semi-annual installments; ii) a loan facility worth SAR900 million to finance the construction of MWSPC's diammonium phosphate (DAP) plant, which will be repaid in 14 semi-annual installments; iii) a loan facility worth SAR1 billion to finance the construction of MWSPC's sulphuric acid plant and the power plant in the city of Waad al Shamal; which will be repaid in 16 semi-annual installments; iv) a loan facility worth SAR1.2 billion to finance the construction of MWSPC's phosphoric acid plant and phosphate concentrate plant, which will be repaid in 16 semi-annual installments. Maaden also stated that MWSPC will provide a mortgage in favour of SIDF to secure the loans, while the shareholders of MWSPC (Maaden, SABIC, and The Mosaic Company) will provide guarantees in favor of SIDF. The loan provisions are still subject to finalising the binding loan agreements. It is worth noting that MWSPC is 60%-owned by Maaden, 25%-owned by the Mosaic Company, and 15%-owned by Saudi Basic Industries Corporation (SABIC) [2010.SE]. (Tadawul)   SABIC: SAR67.71 as of 07 January 2016, Rating: Buy, FV: SAR100.00 per share, MCap: USD54,168 million, SABIC AB / 2010.SE