PhosAgro and Ma’aden sign MoU to provide fertilisers to agricultural producers
Russia-based PhosAgro and Saudi Arabian mining company Ma’aden signed a memorandum of understanding (MoU) relating to sustainable development of the companies, as well as to boost domestic and global food security by helping provide fertilisers to agricultural producers.
Under the MoU, the two phosphate-based fertiliser producers agreed to share best practices and knowledge related to technical aspects of production, environmental protection, and workplace health and safety.
The firms will also take up several measures to support their long-term sustainable development. They will participate in initiatives to ensure the reliability and stability of supply of phosphate-based fertilisers to agricultural producers across the world.
Both companies are completing major development projects to increase production volumes of crop nutrients using modern technologies.
PhosAgro is due to launch its 760,000tpa ammonia line and a 500,000tpa granulated urea facility at PhosAgro-Cherepovets.
Ma’aden started increasing its phosphate-based fertiliser production capacity at its Waad al-Shamal facility.
PhosAgro CEO Andrey Guryev said: "We welcome cooperation with another one of the world’s leading producers of phosphate-based fertilisers. PhosAgro and Ma’aden both place great importance on sustainability and stability, both in terms of developing our businesses and in terms of the important role we play in supporting food security at the domestic and international levels.
"This landmark memorandum of understanding is an important achievement for both of our companies and will help, among other things, to ensure greater discipline to secure the stable supply of phosphate-based fertilisers to customers around the world.”
Ma’aden president and CEO Eng. Khalid bin Saleh Al-Mudaifer said: “We are happy to cooperate with PhosAgro, and look forward to the opportunities that sharing knowledge and best practices can bring both of our companies. Like PhosAgro, Ma’aden is committed to ensuring discipline and stability in the supply of high-quality phosphate-based fertilisers. This will ultimately benefit all of our stakeholders, helping to enhance the sustainability of global food security."
The two companies are producers of phosphate-based fertilisers that are low in potentially harmful impurities such as cadmium.