Indian fertilizer majors sign deal with Saudi Arabia firm Ma’aden

NEW DELHI

Three major fertilizer producers from India entered into long-term agreements on supply of fertilizers with Ma’aden of Saudi Arabia. The signing of the agreements was done in the presence of J. P. Nadda, Minister of Health and Family Welfare and Chemicals and Fertilizers, who is on a three-day (July 11-13) visit to the Gulf kingdom.

A press note from the Government of India said that the agreements will ensure the supply of 3.1 million MT of DAP (Diammonium Phosphate) fertilizer per annum for five years from 2025-26 onwards, with further extension of five years with “mutual consent”.

Also read: Coromandel International signs MoU with Saudi miner Ma’aden for phosphatic fertilizers 

Mr. Nadda met with the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al Khorayef, in capital Riyadh and discussed mechanisms to strengthen bilateral partnership on fertilizers, petrochemicals and pharmaceutical sectors. “Discussions were also held on facilitating mutual investments, with a focus on exploring opportunities for Indian Public Sector Undertakings (PSUs) to invest in the Saudi fertilizer sector, and reciprocally, Saudi investments in India,” said the press note.

The two sides also formed a joint team led by the Secretary (Fertilizer) on the Indian side and the Vice Minister for Mining Affairs in the Ministry of Industry and Mineral Resources on the Saudi side to explore long-term collaboration in this sector — a step crucial for ensuring India’s agricultural security. “At a time when some countries are showing a restrictive approach in fertilizer supply, the commitment from KSA demonstrates that India’s friends and partners continue to work closely to deliver requirements and collaborate on future investments,” said the press note.

Mr. Nadda also met Prince Abdulaziz bin Salman Al Saud, Minister of Energy, and co-chair of the Economy and Investment Committee of the Strategic Partnership Council between India and Saudi Arabia, on ways to enhance the economic partnership between the two countries.

The second meeting of the Strategic Partnership Council (SPC) took place during Prime Minister Narendra Modi’s visit to Jeddah in April. The SPC has prioritised India-Saudi relations in the fields of defence, energy and cultural domains.