Maaden announces new contract with Bangladesh’s government to supply DAP in 2017
Saudi Arabian Mining Company (Maaden) [1211.SE] has announced a new supply contract with Bangladesh Agricultural Development Corporation (BADC) to supply diammonium phosphate (DAP) fertiliser for 2017. The release added that the deal strengthens Maaden’s position as a key global supplier of phosphate fertilisers. It is worth noting that BADC is a an affiliate of Bangladesh Ministry of Agriculture, responsible for importing fertilisers. (Company release) Maaden: SAR39.67 as of 09 January 2017, Rating: Neutral, TP: SAR30.00 per share, MCap: USD12,361mn, MAADEN AB / 1211.SE
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