Brazil and Saudi Arabia could close partnerships in the fertilizer sector, suggests Lula

Brasil e Arábia Saudita podem fechar parcerias no setor de fertilizantes, sugere Lula

During a round table, held in Riyadh, Saudi Arabia, with Arab and Brazilian authorities and businesspeople, President Lula suggested that two countries could close partnerships in the fertilizer sector.

“For example, we could make cross-investments between our Petrobras and companies in Saudi Arabia to produce fertilizers and provide a guarantee to the world with the uncertainty created by Russia's war in Ukraine”, said the head of the Executive. “We are talking about economic growth and development when part of the world is talking about war”, he added.

In October, the president of Petrobras, Jean Paul Prates, visited the Saudi capital. There, he discussed potential partnerships with the kingdom's Energy Minister, Prince Abdulaziz bin Salman Al Saud. However, to date, no official joint project has been released.

Last Thursday (24), the Brazilian state-owned company released its Strategic Plan for the five-year period 2024-2028, making its return to the fertilizer segment official. Brazil is the fourth largest consumer and main global importer of the input.

Source: datagro

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