Saudi Arabia's Ma'aden to supply 600,000 tonnes of fertilisers to Bangladesh
Ma’aden, which is the largest multi-commodity mining and metals company in the Middle East and the world’s second-largest exporter of phosphate fertiliser
Saudi Arabian Mining Company Ma'aden, has renewed its agreement with the Bangladesh Agricultural Development Corporation (BADC), to supply 600,000 tonnes of fertilisers.
The agreement was signed on the sidelines of a BADC delegation visit to Ma'aden's headquarters, reports the Arab News.
Ma'aden, which is the largest multi-commodity mining and metals company in the Middle East and the world's second-largest exporter of phosphate fertiliser, supplies approximately 42% of Bangladesh's estimated requirement of di-ammonium phosphate. The renewal of this agreement further solidifies the company's commitment to meeting global market demand for phosphate fertilisers.
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Over the past years, Ma'aden has scaled its production of sustainable and resilient phosphate fertilisers, with plans to increase its phosphate fertiliser production by 50% to 9 Mtpa through the company's Phosphates 3 megaproject. Ma'aden is playing a growing role in the global agricultural value chain, by strengthening partnerships with key stakeholders to deliver high-quality fertilisers and play a role in helping support global food security.
"We are excited to extend our near-decade-long relationship with Bangladesh Agricultural Development Corporation and play a role in helping support food security efforts in the region," said Hassan Al-Ali, executive vice president, Phosphate BU at Ma'aden.
"As we grow our business, partnerships like these are helping us drive sustainable growth in agricultural output to agricultural markets around the world despite global economic challenges. We are excited to extend our near-decade-long relationship with BADC and play a role in helping support food security efforts in the region," he added.
Ma'aden, which had revenues of $10.7 billion in 2022, aims to develop the mining industry into the third pillar of the Saudi economy in line with Vision 2030.
The company operates 17 mines and sites, has 6,500+ direct employees and exports products to more than 30 countries.
It plans to embark on massive growth over the next 18 years across phosphate, aluminum, gold, copper and new minerals — to leverage the Kingdom's estimated $1.3 trillion mineral endowment and international opportunities.
