Saudi Arabian Mining Company (Ma’aden), one of the fastest-growing mining companies in the world, has signed four memorandums of understanding (MoU) with India’s largest fertilizer companies.
The MoUs were signed in the presence of His Excellency Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, the Hon. Dr. Mansukh Mandaviya, India’s Minister of Chemicals and Fertilizers, and Mr. Robert Wilt, CEO of Ma’aden.
The MoUs include;
An agreement with the Indian Potash Company Limited to supply phosphate products.
An agreement to supply ammonia to Gujarat State Fertilizers and Chemicals Limited.
Two agreements, with Krishak Bharati Cooperative Company Limited and Coromandel International Limited respectively, to supply phosphate products and ammonia, to explore collaboration in multiple growth areas and pursue joint development of technology for specialty products, product development, agronomy and logistics solutions.
Robert Wilt CEO – Ma’aden
“India is the largest import market for phosphate and ammonia in the world, with steadily increasing demand. Due to the close geographical proximity between our nations, Ma’aden is a natural partner for the Indian market. In May 2020, we opened our first office in India to reinforce our commitment to the country and be closer to our customers. As a leading global phosphate fertilizer producer and the largest phosphate fertilizer supplier to India, India is a strategically important market for Ma’aden. We aim to continue to invest in strengthening our relationship with Indian companies. These new agreements help expand our role in global food security and help bolster the long-standing relationship between Saudi Arabia and India.”
The agreements seek to double Ma’aden’s exports of phosphate products and ammonia to India starting in 2023, with plans to explore product and technology development collaboration for phosphate fertilizers.
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