Saudi mining firm seals fertilizer export deal with Bangladesh

[Black_cats]

Saudi mining firm seals fertilizer export deal with Bangladesh

ARAB NEWS
30 December 2020

Saudi mining firm seals fertilizer export deal with Bangladesh

Get the latest breaking news and headlines from the largest Arab News website. Get world news, sport news, business news, entertainment, lifestyle, video and photos.

www.google.com

Short Url

Saudi mining firm seals fertilizer export deal with Bangladesh

RIYADH: Saudi Arabian mining firm Maaden has signed a new deal with Bangladesh’s state-owned agricultural imports management company, it was announced on Wednesday. As part of the deal the Saudi firm will supply phosphate fertilizer to the Bangladesh Agricultural Development Corporation (BADC)...

arab.news

• Saudi firm will supply phosphate fertilizer to the Bangladesh Agricultural Development Corporation throughout 2021

RIYADH: Saudi Arabian mining firm Maaden has signed a new deal with Bangladesh’s state-owned agricultural imports management company, it was announced on Wednesday.

As part of the deal the Saudi firm will supply phosphate fertilizer to the Bangladesh Agricultural Development Corporation (BADC) throughout 2021.

Commenting on the announcement, Maaden CEO Mosaed Al-Ohali said: “This new agreement will play an important role in boosting crop output and contributing to stable food supplies in the country.”

In a press statement, Maaden said that it was a vital part of Saudi Arabia’s Vision 2030 goals to promote non-oil exports and is aiming to reach a production capacity of 9 million tons of phosphate fertilizers per year.

In a bid to expand its reach into Africa, the company last year acquired Mauritius-based fertilizer distributor Meridian Group, which also operates in Malawi, Mozambique, Zimbabwe and Zambia.

 

[Bilal9]

I am surprised. Bangladesh is a large scale manufacturer and net exporter of fertilizer. When did we need to import any...

 

[bluesky]

There is at least one TSP (Triple Super Phosphate) fertilizer factory in Patenga of Chittagong. I forgot the capacity of its production, but, I have heard that BCIC (Bangladesh Chemical Industries Corporation) regularly imports phosphate, a raw material, from Jordan for using in this plant. It is possible that middle eastern countries have this mines in good number. So, SA is producing some phosphate-based fertilizer and is exporting.

I am not sure if the TSP factory still exists or not. Anyway, the country has to import goods that are in short supply locally.

 

[Michael Corleone]

I am surprised. Bangladesh is a large scale manufacturer and net exporter of fertilizer. When did we need to import any...

I don’t understand why would they call phosphate (mineral) a fertilizer. Gave me the wrong idea.
they’re probably cutting a lot of hills in their country, theirs aren’t muddy, clay formation like ours

 

[fallstuff]

UPDATE 2-Saudi king to open $22.7-billion mining project on Thursday, Al Arabiya TV

Saudi Arabia's King Salman will inaugurate on Thursday the Waad Al-Shamaal project, a 440-square-km city for mining industries in the country's northern region, Al Arabiya TV said, quoting energy minister Khalid al-Falih.

www.reuters.com

Saudi Arabia’s city of phosphate

A new phosphate mining and processing mega-project is set to improve Saudi Arabia’s access to the global fertiliser market, but a potential excess of international supply may extend the period before the multi-billion scheme turns a profit.

oxfordbusinessgroup.com