The Saudi Arabian Mining Company (Ma’aden), the largest multi-commodity mining and metals company in the Middle East, has renewed its Phosphate fertilizers supply agreement with Bangladesh Agricultural Development Corporation (BADC).
In accordance with the agreement, Bangladesh would continue to receive around 40 percent of the country’s estimated Di-ammonium Phosphate (DAP) needs through 2023 from Ma’aden. Further, Ma’aden will become Bangladesh’s largest phosphate supplier as part of the deal.
BADC is a government-owned corporation that imports fertilizers under the umbrella of the Bangladesh Ministry of Agriculture.
Commenting on the agreement, Ma’aden’s Executive Vice President, Mr. Hassan Al-Ali, said that, “We are pleased to offer high quality and reliable fertilizers once again to Bangladesh, which is a key market segment for Ma’aden. We remain committed to building our long-term relationship with the Bangladesh Ministry of Agriculture and the BADC, supporting food security in the country.”
The Saudi Arabian Mining Company plays an essential role in achieving the goals of Saudi Arabia’s ‘Vision 2030’ by promoting non-oil exports and sustainable development programs to raise global food security levels.
Ma’aden is the second largest exporter of phosphate fertilizers in the world and serves around 20 percent of the global market, delivering to clients in over 15 countries, with plans for further expansion.
Last month, Ma’aden signed an agreement with King Fahd University of Petroleum & Minerals (KFUPM) to collaborate on the research and development (R&D) of mining technology. The deal will facilitate collaboration on scientific and technical research, establish joint research programs to develop technology solutions, and harness R&D expertise within a governed framework.