Bangladesh renews contract with Saudi Arabian Mining Company for 600,000 tons of fertilizer
The Bangladesh Agricultural Development Corporation (BADC) has renewed its contract with Saudi Arabian Mining Company (Ma'aden), the largest multi-commodity mining and metals company in the Middle East and the second-largest exporter of phosphate fertilizer in the world, to provide BADC with 600,000 tons of fertilizer. The arrangement was sealed after a BADC delegation visited the Ma'aden corporate office.
The renewal of this arrangement further demonstrates Ma'aden's dedication to satisfying the demand for phosphate fertilizers on the international market since the company currently supplies 42% of Bangladesh's expected di-ammonium phosphate (DAP) needs.
Ma'aden has scaled up the manufacture of durable and sustainable phosphate fertilizers over the past few years, and the business has ambitions to boost that production by 50% to 9 Mtpa with its Phosphates 3 megaproject. By strengthening partnerships with important players to offer high-quality fertilizers and contribute to global food security, Ma'aden is taking on a larger position within the global agricultural value chain.
Eng. Hassan Al Ali, Executive Vice President, Phosphate BU at Ma'aden, commented on the arrangement, saying, "We are pleased that we are able to continue collaborating with BADC to ensure a reliable supply of high-quality fertilizer products to the Bangladesh market. Despite global economic concerns, collaborations like these support us as we expand our business to deliver sustainable growth in agricultural output to agricultural markets throughout the world. We are thrilled to continue our nearly ten-year partnership with BADC and to contribute to regional initiatives to improve food security.