MA’ADEN signs 4 deals with Indian company to promote ‎phosphate exports ‎

Saudi Arabian Mining Company (MA’ADEN) signed four memoranda of understanding with the largest Indian companies in fertilizer sector, in the presence of the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef; His Excellency the Indian Minister of Chemicals and Fertilizers, Dr. Mansokh Mandavia; and CEO of MA’ADEN, Professor Robert Wilt.

These agreements aim to contribute to doubling MA’ADEN’s annual exports of phosphate and ammonia products to the Indian market starting from 2023, and also support research on cooperation in the field of product development and technology in the fertilizer industry.

The memorandums of understanding included an agreement with the “Indian Potash Company Limited” to supply phosphate products, and an agreement with “Gujarat State Fertilizers and Chemicals Company Limited” to supply ammonia, while the third and fourth agreements witnessed the signing of the “Krishak Bharati Cooperative Company Limited” and “Coromandel Company” International Limited” to supply phosphate and ammonia products, and to discuss ways to enhance joint cooperation in various fields of growth, technical development of specialized products, agricultural engineering and logistical solutions.

Wilt pointed out that India is the largest market for importing phosphate and ammonia in the world and is witnessing a steady increase in demand, stressing that the geographical proximity between the two countries contributes to strengthening the close partnership between MA’ADEN and the Indian market.

Wilt praised the long-standing cooperation relationship since the first export of fertilizers to India in 2011, noting that MA’ADEN today exports about 1.7 million tons of phosphate and ammonia products to the Indian market annually.

Wilt explained that MA’ADEN opened its first office in India in May 2020 with the aim of consolidating its commitment to the Indian market and its keenness to be closer to its customers, noting that India is a strategic market for MA’ADEN as a leading global company in the production of phosphate fertilizers. And the largest supplier of phosphate fertilizers to India, affirming MA’ADEN’s commitment to continue strengthening its relationships with Indian companies.

Wilt stressed the importance of these new agreements in enhancing MA’ADEN’s role as a major player in global food security, and contributing to the consolidation of the solid relationship between the Kingdom and the Republic of India.

It is worth noting that MA’ADEN has managed, in a record time, to establish its position as a pioneer in the mining sector in the Kingdom. MA’ADEN’s business model in the field of fertilizers is based on providing integrated services “from the mine to the market”, through two large industrial complexes in the Kingdom, namely the city of Waad Al-Shamal. Industrial area in the northern border region, and the industrial city of Ras Al-Khair on the eastern coast.

MA’ADEN is currently developing a third phosphate project, the “Phosphate 3” project, which will contribute to enhancing the company’s ability to supply phosphate fertilizers by 3 million tons, with the aim of reaching a production capacity of 9 million tons in the coming years.