Indian chemicals and fertilisers minister visits Saudi Arabia
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Riyadh: Dr. Mansukh Mandaviya, Minister for Health and Family Welfare and Chemicals and Fertilisers, arrived in Riyadh on Thursday. His visit to the Kingdom of Saudi Arabia was focused on enhancing bilateral cooperation with India in the fields of chemicals and fertilisers.
He led a high-powered delegation that included secretary Arti Ahuja and heads of premier petrochemical and fertilizer companies in India.
The ministerial delegation comprised Mukesh Puri, Managing Director of Gujarat State Fertilizers and Chemicals Ltd; Nirlep Singh Rai, Managing Director of National Fertilizers Limited; Rajan Chowdhry, Managing Director of KRIBHCO; Gaurav Mathur, Managing Director of CFCL; S. Sankarasubramanian, President of Nutrient Business, Coromandel International Limited; and Dr. P.S. Gahlaut, Managing Director of IPL.
The companies signed a joint declaration of importation and project collaborations with SABIC and Maaden for long-term supplies of fertilizers and petrochemicals. Minister Mandaviya met with the Saudi Minister of Environment, Water, and Agriculture, His Excellency Mr. Abdulrahman Abdulmohsen A. AlFadley. They discussed ways to further the Indo-Saudi partnership in the field of environment, sustainable development, and agriculture. India and Saudi Arabia are already working together to counter climate change under the institution of the International Solar Alliance.
He also visited the headquarters of SABIC where he was received by Yousef Abdullah Al-Benyan, Vice Chairman and CEO. The Indian minister congratulated SABIC and Indian companies for signing the Memorandum of Understandings and also discussed avenues to boost the India-Saudi partnership in the fields of fertilisers and petrochemicals.
The union minister held discussions with the Saudi Minister of Industry and Mineral Resources, His Excellency Mr. Bandar bin Ibrahim AlKhorayef, on mechanisms to strengthen partnerships in the industries of health care, pharmaceutical, petrochemicals, and fertilisers.
The representatives also witnessed the signing of MoUs between Maaden and Indian companies- IPL, KRIBHCO, Coromandel, and GSFC. His Excellency Mr. AlKhorayef hosted a dinner in honour of the minister and accompanying delegation.
With these memoranda of understanding, Indian companies have secured a 2.5 million tonnes annual supply of key raw materials like ammonia and finished fertilisers like DAP and NPKs for the next three years.
This will add to the India-Saudi Arabia friendship and greatly benefit Indian farmers.
A joint declaration was made between KRIBHCO and Maaden to commit to the long-term supply of up to one million MT of DAP/NPKs per annum to India. The collaboration also includes joint development in agronomy logistics solutions and product development to support farmers in India and Saudi Arabia.
India is a key export destination for Saudi Arabia as it is one of the largest markets for fertilisers from the Kingdom. Chemicals and fertilisers are among the top trading commodities between the two nations. The visit holds immense significance as it comes in the aftermath of the current crisis in Ukraine. It will contribute towards further strengthening bilateral ties.