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Saudi Arabian Mining Co. (Maaden) renewed its agreement with Bangladesh Agricultural Development Corporation (BADC) to supply phosphate fertilizer in 2021.
Under the recently renewed contract, Maaden will supply di-ammonium phosphate (DAP) fertilizer to BADC, a state-owned company operating under the umbrella of the Ministry of Agriculture in Bangladesh.
Maaden is keen to continue performing its role in the Kingdom's contribution to achieving global food security in line with the sustainable development goals of the United Nations, the company’s chief executive, Mosaed Al Ohali, said.
Al Ohali added that the natural phosphate reserves located in the north of the Kingdom provide Maaden with a solid opportunity to meet the growing demand for fertilizer products around the world.
He expects that the company's production capacity will reach 9 million tons of phosphate fertilizer by 2025.
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