Maaden, PhosAgro sign cooperation agreement to support food security

Fertilizer producers Maaden and PhosAgro entered a strategic cooperation agreement as part of the memorandum of understanding (MoU) signed during the visit of Saudi Arabia’s King Salman to the Russian Federative Republic.

The Russian Direct Investment Fund (RDIF) also signed the agreement as third party and aims to strengthen the areas of collaboration between the two companies.

Under the agreement, Maaden and PhosAgro will work together to support global food security through fertilizer industry development projects around the world.

Both parties will also promote the exchange of technical expertise aimed at increasing efficiency in production and manufacturing quality through field site visits.

Additionally, the parties will collaborate to minimize any negative impact on the environment and expand the use of environmentally friendly phosphate fertilizers globally.

RDIF will help facilitate opportunities for cooperation and strategic partnerships between the two parties.

Currently Maaden contributes to the fertilization of about 70 million hectares of grain-growing land, estimated to produce about 200 million tons of grain and enough to feed about 500 million people annually.