The Saudi Arabian Mining Company (Ma’aden) has renewed its agreement with the Bangladesh Agricultural Development Corporation (BADC) to supply 600,000 tons of fertilizers to BADC.
Ma’aden is the largest multi-commodity mining and metal company in the Middle East and the world’s second-largest exporter of phosphate fertilizer.
BADC is a government-owned corporation that imports fertilizers under the umbrella of the Bangladesh Ministry of Agriculture. The agreement was signed on the sidelines of a BADC delegation visit to Ma’aden’s headquarters.
The renewal is further evidence of the company’s commitment to meet the global market demand for phosphate fertilizers. Ma’aden supplies approximately 42 percent of Bangladesh’s estimated requirement of diammonium phosphate (DAP).
Reflecting on the agreement, Eng. Hassan Al Ali, Executive Vice President of the Phosphate Business Unit at Ma’aden, said that, “We are pleased that we are able to continue working with BADC to ensure a reliable supply of high-quality fertilizers to the Bangladesh market.”
“As we grow our business, partnerships like these are helping us drive sustainable growth in agricultural output of agricultural markets around the world despite global economic challenges. We are excited to extend our near-decade-long relationship with BADC and to play a role in helping support food security efforts in the region,” Eng. Al Ali added.
Over the past years, Ma’aden has scaled up its production of phosphate fertilizers and plans to increase its phosphate fertilizer production by 50 percent, to 9Mtpa, through the company’s Phosphates 3 mega project. Further, Ma’aden is playing a growing role in the global agricultural value chain, by strengthening partnerships with key stakeholders to deliver high-quality fertilizers and play a role in helping support global food security.
Last year also, Ma’adenrenewed its phosphate fertilizers supply contract with Bangladesh Agricultural Development Corporation.
