Indian cooperative KRIBHCO to invest in Saudi Arabia's mining giant Ma'aden

In a further boost to the growing ties between India-Saudi Arabia, a Joint Declaration was signed on Thursday by leading Indian Cooperative KRIBHCO for investments in the new Phosphate project of Ma'aden.

Dr Mansukh Mandaviya, Minister of Health and Family Welfare, while attending the signing event, wrote in a tweet, "India-Saudi Arabia ties growing from strength to strength! An example of deep-rooted ties between - is the signing of the Joint Declaration today by leading Indian Cooperative KRIBHCO for investments in the new Phosphate project of Ma'aden."

"With this, Indian companies have secured a 2.5 million tonnes annual supply of key raw materials like ammonia & finished fertilizers like di-ammonium phosphate (DAPs) and nitrogen phosphorus potassium (NPKs) for the next 3 years. This will add even more energy to India-Saudi Arabia friendship & benefit our hard-working Indian farmers."

Ma'aden is among the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East. Ma'aden pioneered the mining industry in Saudi Arabia, building a world-class, unique and fully integrated mining value chain.

It is becoming a key player in the long-term diversification of Saudi Arabia economy. Ma'aden complies with the highest international standards of corporate governance and continues to build the company operations on a strong foundation of sustainable practices.

Meanwhile, KRIBHCO was one of the first Plants to come up in Hazira Area in the State of Gujarat, on the bank of river Tapti, 15 km from Surat is a leading Fertilizer player in the Cooperative Sector.

KRIBHCO was incorporated as a national level Multi State Cooperative Society to implement first gas based "state-of-the-art" high capacity Fertilizer Complex consisting of 2 x 1350 MTPD Ammonia plants and 4 x 1100 MTPD Urea plants each with annual installed capacity of 8.91 Lakh MT of Ammonia and 14.52 Lakh MT of Urea.

Krishak Bharati Cooperative Limited (KRIBHCO) is a premier National level Cooperative Society of India engaged in fertilizer production and distribution and is registered under Multi State Cooperative Societies (MSCS) Act, 2002.

It was founded in April 1980, to produce and distribute high-quality agricultural inputs, mainly chemical fertilizers, through cooperatives and institutional agencies. The paid-up share capital of KRIBHCO has been contributed by 9478 cooperative societies from all over the country. KRIBHCO believes in keeping with its cooperative philosophy and legacy while incorporating technology to better serve the nation.

KRIBHCO's production facility is located at Hazira, Gujarat and its wholly-owned subsidiary KRIBHCO Fertilizers Limited (KFL) production facility is located at Shahjahanpur, Uttar Pradesh.

Oman India Fertiliser Company S.O.A.C. (OMIFCO), a Joint Venture of KRIBHCO has its production facility in SUR, Oman. In addition to production of fertilizers, Society is also engaged in trading and distribution of bulk fertilizers like DAP, NPK, MOP etc.

The product basket of KRIBHCO comprises of Urea, DAP, NPK, MOP, SSP, Zinc Sulphate, Bio-Fertilizers, Certified Seed, Compost, Hybrid Seeds, BT Cotton etc. KRIBHCO distributes these products through its channel partners both in cooperatives and private retail. It also supplies products through and its own outlets, commonly known as Krishi Bikash Shilpa Kendra (KBSK's).

( With inputs from ANI )