29 June 2010
Amman -- The Jordan Abyad Fertilizers & Chemicals Co. (JAFCCO) on Tuesday signed a memorandum of understanding with a Chinese firm to launch a joint venture to produce fertilizers and other chemicals at an estimated cost of $260 million.
The investment with Chongqing Minmetal and Machinery Import and Export Co.(CQMMC) will be launched in the Abyad mines area in the southern governorate of Karak and it is expected to be completed within 36 months.
The deal was signed by JAFCCO Board Chairman Walid Kurdi and CQMMC Board Chairwoman Yuan changyu.
Kurdi said the proposed venture comes within the company's efforts to build fertilizers factories in the Kingdom to meet growing demands in international markets.
The Jordan Abyad Fertilizers and Chemicals Company is a Jordanian-Bahraini joint investment and it is providing local, Middle Eastern, Arab and International markets with high-value, premium-quality Potassium Sulphate, Sulphuric Acid and other chemicals and fertilizers.
Jordan Phosphate Mines Co.is a stockholder in JAFCCO as well as other Arab companies.
Amman -- The Jordan Abyad Fertilizers & Chemicals Co. (JAFCCO) on Tuesday signed a memorandum of understanding with a Chinese firm to launch a joint venture to produce fertilizers and other chemicals at an estimated cost of $260 million.
The investment with Chongqing Minmetal and Machinery Import and Export Co.(CQMMC) will be launched in the Abyad mines area in the southern governorate of Karak and it is expected to be completed within 36 months.
The deal was signed by JAFCCO Board Chairman Walid Kurdi and CQMMC Board Chairwoman Yuan changyu.
Kurdi said the proposed venture comes within the company's efforts to build fertilizers factories in the Kingdom to meet growing demands in international markets.
The Jordan Abyad Fertilizers and Chemicals Company is a Jordanian-Bahraini joint investment and it is providing local, Middle Eastern, Arab and International markets with high-value, premium-quality Potassium Sulphate, Sulphuric Acid and other chemicals and fertilizers.
Jordan Phosphate Mines Co.is a stockholder in JAFCCO as well as other Arab companies.
© Jordan News Agency - Petra 2010
