PhosAgro and the Saudi Arabian Mining Co. Ma’aden today signed a memorandum of understanding (MOU) they say will provide a new impetus to the development of the global phosphate-based fertilizer industry. The agreement aims to contribute to the sustainable development of the companies, as well as to domestic and global food security by helping to secure the uninterrupted supply of safe and high-quality fertilizers to agricultural producers around the world.
Under the MOU, the two agreed to share best practices and knowledge related to technical aspects of production, environmental protection, and workplace health and safety. The parties will also undertake a number of measures to support their long-term sustainable development, including participation in a range of initiatives aimed at ensuring the reliability and stability of supply of phosphate-based fertilizers to agricultural producers worldwide.
The memorandum was signed as part of the state visit of His Majesty King Salman bin Abdulaziz Al Saud to the Russian Federation.
Both Ma’aden and PhosAgro are currently completing major development projects aimed at enabling them to increase production volumes of crop nutrients using efficient modern technologies. PhosAgro is due to launch its 760,000 mt/y ammonia line and a 500,000 mt/y granulated urea facility at PhosAgro-Cherepovets in the near future. Ma’aden has begun ramping up its phosphate-based fertilizer production capacity at its Waad al-Shamal facility.
Both companies note that they are leading producers of phosphate-based fertilizers that are low in potentially harmful impurities like cadmium, and are committed to helping ensure that the mineral fertilizers used to grow plants all over the world contribute to safe and healthy food supplies for end consumers.