NEXTGREEN GLOBAL ENTERS LIBYAN MARKET WITH OIL PALM BIOMASS-BASED FERTILISERS

KUALA LUMPUR, May 13 (Bernama) -- Nextgreen Global Bhd (NGGB), through its wholly-owned subsidiary, Nextgreen Fertilizer Sdn Bhd, is bringing its oil palm biomass-based fertiliser products into the Libyan market.

In a statement today, NGGB said that under an exclusive distribution agreement, Nextgreen Fertilizer had appointed P Teguh Nextgreen Sdn Bhd, a 49 per cent-owned associate company, as the exclusive distributor of its biofertiliser products in Libya.

It said the agreement includes a commitment for P Teguh Nextgreen to purchase up to 25,000 tonnes of biofertilisers annually, comprising 20,000 tonnes of NexCompost (solid fertiliser) and 5,000 tonnes of NexBooster (liquid fertiliser).

NGGB managing director Datuk Lim Thiam Huat said the expansion marked a significant step forward for Nextgreen as Libya becomes the group’s first international market for biofertiliser exports.

“By introducing NexCompost and NexBooster to North Africa, we are not only expanding our global footprint but also supporting Libya’s journey towards agricultural resilience by enhancing soil fertility and improving crop productivity as part of a long-term food security effort,” he said.

NGGB said P Teguh Nextgreen had also entered into a supply and purchase agreement with Libyan entities, Inbat Global for Importing Agricultural Machinery and Supplies (Inbat Global) and Fazzan Cooperative Association for Organic Agriculture (Fazzan), to form a collaborative framework to unlock value across the Libyan agricultural supply chain.

It said the collaboration includes P Teguh Nextgreen acting as the official distributor of the biofertilisers, while Inbat Global will be the capital and procurement partner responsible for managing purchases and imports and serving as the authorised supplier to Fazzan.

“Fazzan would operate as the non-exclusive distributor of the products within Libya,” NGGB added.

-- BERNAMA