Mosaic enters phosphate joint venture in Saudi Arabia

March 19 Tue Mar 19, 2013 8:46am EDT

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March 19 (Reuters) - U.S. fertilizer company Mosaic Co said on Tuesday that it will hold a minority stake in a joint venture to produce phosphate in Saudi Arabia.

The $7 billion project, including a mine and chemical complexes to make phosphate fertilizer and other products, will be 60 percent owned by mining and metals company Ma'aden. Mosaic will own 25 percent and petrochemical company Saudi Basic Industries Corp JSC will hold 15 percent.

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