Riyadh - 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) whereby it supplies 600,000 tons of fertilizers to BADC.
The renewal 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).
Over the past years, Ma’aden has scaled up its production of phosphate fertilizers, and plans to increase its phosphate fertilizer production by 50%, to 9Mtpa, through the company’s Phosphates 3 mega project.
"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," said Executive Vice President of the Phosphate Business Unit at Ma’aden Eng. Hassan Al Ali following the agreement.