Riyadh – Mubasher: Saudi Arabian Mining Company (Maaden), the Russian Direct Investment Fund (RDIF), and PhosAgro, one of the world's leading producers of phosphate-containing fertilizers, have signed a partnership to launch several projects in both Russia and Saudi Arabia.

The three parties have agreed upon exchanging ideas and expertise, production methods and processes to increase efficiency and reduce environmental impact, and also consider the possibility of implementing joint investment projects, according to RDIF’s recent statement.

The partnership is aimed at working closely together to strengthen investment and technological exchange between Russia and Saudi Arabia.

“Each party to the agreement has unique expertise in various fields that will help to mutually enrich them. We plan to particularly focus on the development of green technologies, which will make production more eco-friendly and direct additional resources to new promising projects,” Kirill Dmitriev, CEO of DRIF, said.

Darren Davis, President and CEO of Maaden, noted that the collaboration includes the exchange of advanced production practices, support for promising scientific developments and investment cooperation.

“The agreement that we signed will enable these two global leaders in the production of environmentally friendly fertilizers to specify the areas in which they can realize this potential and build close business ties that will benefit all stakeholders,” Davis concluded.