SABIC renews urea deal with Bangladesh for one year

Saudi Basic Industries Corp.’s (SABIC) agri-nutrients unit has renewed a contract with Bangladesh Chemical Industries Corp. to supply 305,000 metric tons of urea, state-owned Saudi Press Agency (SPA) reported Sunday, citing a company statement.

The one-year deal, which is an extension of a previously signed contract, will be effective from March 2017 to February 2018.

The contract was signed during a Bangladeshi delegation’s visit to the kingdom.

The delegation also visited SABIC’s affiliates Saudi Arabian Fertilizer Co. (SAFCO) and Al Jubail Fertilizer Co. (Al Bayroni), the petrochemical giant said.

SABIC produces urea through its affiliates SAFCO, Ibn Al-Baytar, and Al Bayroni.