"There seems to be a lack of knowledge here. The Saudis will be...

"There seems to be a lack of knowledge here. The Saudis will be in first production in 2009 and have plans to supply 20% of global needs. Further, it should be understood it is a state funded project where US$6 billion has already been committed to this initiative."

-you should say the saudis are planing to build a large DAP plant.
-it's my understanding that they still have to secure almost $4 billion of the $6 billion to fund this project from banks!!
-they will not be competing directly with MAK as they will not be selling rock phosphate. (what other companies will be suppling rock phosphate to the many existing fertilizer plants around the world).
-their rock phosphate will not be cheap to mine as it requires extensive benification and is the weak link in their project.
-bet they don't get this up and running in 2009.
-maybe they will decide there rock phosphate is not economical to mine and it would be cheaper to do a deal with MAK.