Saudi Arabian Mining Company (Ma'aden), the largest multi-commodity mining and metals company in the Middle East and the world's second-largest exporter of phosphate fertilizer, has renewed its agreement with the Bangladesh Agricultural Development Corporation (BADC), to supply 600,000 tons of fertilizers to BADC.
The agreement was signed on the sidelines of a BADC delegation visit to Ma'aden's headquarters.
Ma'aden supplies approximately 42% of Bangladesh's estimated requirement of Di-ammonium Phosphate (DAP), and the renewal of this agreement further solidifies the company's commitment to meet global market demand for phosphate fertilizers.
Over the past years, Ma'aden has scaled its production of sustainable and resilient phosphate fertilizers, with plans to increase its phosphate fertilizer production by 50% to 9Mtpa through the company's Phosphates 3 mega project. 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.
Reflecting on the agreement, Eng. Hassan Al Ali, Executive Vice President, Phosphate BU at Ma'aden said, 'We are pleased that we are able to continue working with BADC to ensure a reliable supply of high-quality fertilizer products to the Bangladesh market. 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 playing a role in helping support food security efforts in the region.'
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