Saudi’s Ma’adan mining company has signed four Memorandum of Understanding (MoU) with Indian companies to boost exports of phosphate products and ammonia to Asia amid a strengthening of ties between the two countries.
This step supports research on aspects of cooperation in product development and technology in the fertiliser industry, according to a Saudi news agency.
Ma’aden’s CEO Robert Willett indicated that India is the largest import market for phosphate and ammonia in the world and is witnessing a steady increase in demand.
Ma’aden nowadays exports about 1.7 million tons of phosphate and ammonia products to the Indian market annually, Willett added.
He stressed that the geographical proximity between the two countries contributes to strengthening the close partnership between Ma’aden and the Indian market.
Moreover, Ma’aden is developing a third phosphate project which will contribute to enhancing its ability to supply phosphate fertilisers by 3 million tons, aiming to reach 9 million tons of production capacity in the coming years.
