Jordan and Turkey’s Transept Company on Tuesday signed an agreement to jointly build a $400 million phosphoric acid plant with a capacity of 300 tonnes per year.

Jordan’s official news agency said the plant would be built in the Southern Jordanian port of Aqaba and would be completed within three years.

The Jordan Phosphate Mines Company (JPMC) signed the contract with the Turkish firm in Aqaba, the agency said, adding that the project is the largest Turkish investment in Jordan and the first in this field.

“This is a significant agreement that will usher in stronger cooperation between Jordan and Turkey and in attracting more investments to Jordan,” JPMC Chairman Mohammed Al-Dhuneibat said after signing the deal.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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