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PhosAgro PAOAnnouncement

05/10/2017 16:45

For Immediate Release   5 October 2017 

PhosAgro and Ma’aden Sign Landmark Memorandum of Understanding

Moscow – PhosAgro and the Saudi Arabian Mining Company Ma’aden today
signed a landmark memorandum of understanding (MOU) that will provide new
impetus to the development of the global phosphate-based fertilizer industry.
The agreement aims to contribute to the sustainable development of the
companies, as well as to domestic and global food security by helping to
secure the uninterrupted supply of safe and high-quality fertilizers to
agricultural producers around the world.

Under the MOU, two of the world’s leading phosphate-based fertilizer
producers agreed to share best practices and knowledge related to technical
aspects of production, environmental protection, and workplace health and
safety. The parties will also undertake a number of measures to support their
long-term sustainable development, including participation in a range of
initiatives aimed at ensuring the reliability and stability of supply of
phosphate-based fertilizers to agricultural producers worldwide.

The memorandum was signed as part of the state visit of His Majesty King
Salman bin Abdulaziz Al Saud to the Russian Federation.

Both Ma’aden and PhosAgro are currently completing major development
projects aimed at enabling them to increase production volumes of crop
nutrients using efficient modern technologies. PhosAgro is due to launch its
760 ths tonne/year ammonia line and a 500 ths tonne/year granulated urea
facility at PhosAgro-Cherepovets in the near future. Ma’aden has begun
ramping up its phosphate-based fertilizer production capacity at its Waad
al-Shamal facility.

Both companies are leading producers of phosphate-based fertilizers that are
low in potentially harmful impurities like cadmium, and are commited to
helping ensure that the mineral fertilizers used to grow plants all over the
world contribute to safe and healthy food supplies for end consumers.

PhosAgro CEO Andrey Guryev said: “We welcome cooperation with another one of
the world’s leading producers of phosphate-based fertilizers. PhosAgro and
Ma’aden both place great importance on sustainability and stability, both in
terms of developing our businesses and in terms of the important role we play
in supporting food security at the dometic and international levels. This
landmark memorandum of understanding is an important achievement for both of
our companies and will help, among other things, to ensure greater discipline
to secure the stable supply of phosphate-based fertilizers to customers around
the world.”

Ma’aden President and CEO Eng. Khalid bin Saleh Al-Mudaifer said: “We are
happy to cooperate with PhosAgro, and look forward to the opportunities that
sharing knowledge and best practices can bring both of our companies. Like
PhosAgro, Ma’aden is committed to ensuring discipline and stability in the
supply of high-quality phosphate-based fertilizers. This will ultimately
benefit all of our stakeholders, helping to enhance the sustainability of
global food security.”



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