A Joint Declaration was signed on Thursday for investments in the new phosphate project of Ma'aden by the leading Indian cooperative KRIBHCO, strengthening the already strong ties between India and Saudi Arabia. The Minister of Health and Family Welfare, Dr. Mansukh Mandaviya, tweeted while at the signing ceremony, "India-Saudi Arabia ties growing from strength to strength!
The Joint Declaration signed today by the top Indian cooperative KRIBHCO for investments in the new phosphate project of Ma'aden is an illustration of the strong ties that exist between the two countries. Through this, Indian businesses have guaranteed a 2.5 million tonnes annual supply of crucial raw materials like ammonia and finished fertilisers like di-ammonium phosphate (DAPs) and nitrogen phosphorus potassium (NPKs) for the following three years. This will strengthen the friendship between India and Saudi Arabia and help our diligent Indian farmers.
Ma'aden is the biggest multi-commodity mining and metals company in the Middle East and one of the mining companies with the fastest global growth rates. Ma'aden established a top-notch, distinctive, and completely integrated mining value chain, helping to establish the mining sector in Saudi Arabia.
It is increasingly important to Saudi Arabia's economy's long-term diversification. Ma'aden continues to build its business operations on a solid foundation of sustainable practises while adhering to the highest international standards of corporate governance. KRIBHCO, a major player in the cooperative fertiliser market, was one of the first plants to open in the Hazira Area of the State of Gujarat, on the bank of the river Tapti, 15 km from Surat.
KRIBHCO was established as a multi-state cooperative society at the national level to implement the nation's first gas-based, high-capacity fertiliser complex, which consists of two 1350 MTPD ammonia plants and four 1100 MTPD urea plants, each with an installed annual capacity of 8.91 MT of ammonia and 14.52 MT of urea.
Krishak Bharati Cooperative Limited (KRIBHCO) is a renowned Multi State Cooperative Societies (MSCS) Act, 2002-registered fertiliser production and distribution cooperative society of India.
It was established in April 1980 with the goal of producing and distributing through cooperatives and institutional organisations high-quality agricultural inputs, primarily chemical fertilisers. 9478 cooperative societies from all over the nation have contributed to the paid-up share capital of KRIBHCO. KRIBHCO is committed to preserving its cooperative heritage and philosophy while utilising technology to benefit the country.
The production facility for KRIBHCO is in Hazira, Gujarat, and the production facility for its wholly-owned subsidiary KRIBHCO Fertilizers Limited (KFL) is in Shahjahanpur, Uttar Pradesh. The production facility for Oman India Fertilizer Company S.O.A.C. (OMIFCO), a joint venture of KRIBHCO, is located in SUR, Oman. Society also trades and distributes bulk fertilisers like DAP, NPK, and MOP in addition to producing fertilisers.
Urea, DAP, NPK, MOP, SSP, Zinc Sulphate, Bio-Fertilizers, Certified Seed, Compost, Hybrid Seeds, BT Cotton, etc. are included in KRIBHCO's product line. Through its channel partners, KRIBHCO distributes these goods to cooperatives and independent retailers. Additionally, it distributes goods via its own stores, referred to as Krishi Bikash Shilpa Kendra (KBSK)s.
