Bangladesh is going to import 600,000 tonnes of fertilisers from Saudi Arabia.
The Saudi Arabian Mining Company ‘Ma’aden’, the largest multi-commodity mining and metal 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) in this regard.
The bilateral agreement was signed on the sidelines of a BADC delegation visit to Ma’aden’s headquarters. The agreement was signed at Saudi Arabian capital Riyadh on August 13.
Abdullah Sajjad, chairman of Bangladesh Agricultural Development Corporation (BADC); and Saud Al-Tamimi, director of Ma’aden; signed the agreement on their respective sides, says a press release of BADC.
Wahida Akter, secretary of Ministry of Agriculture; and other officials concerned were present during the signing ceremony.
The renewal of agreement by Ma’aden is further proof of the company’s commitment to meet global market demand for phosphate fertilizers. Ma’aden supplies approximately 42% of Bangladesh’s estimated requirement of diammonium phosphate (DAP), report agencies.
Over the past years, Ma’aden has scaled up its production of phosphate fertilizers, and plans to increase its phosphate fertiliser production by 50%, to 9Mtpa, through the company’s Phosphates 3 mega project.
