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The Jordan Phosphate Mines Company (JPMC) has approved several projects inside and outside Jordan buoyed by a surge in its profits in the past years, chairman Mohammad Al‑Thneibat
has said.
The projects include the establishment of an industrial complex for the production of phosphoric acid and specialised phosphate fertilisers in partnership with the Arab Potash Company at a cost of $600 million, and the establishment of the Jordanian-Turkish Fertiliser Company in partnership with the Turkish company Transept to produce phosphoric acid in Aqaba at a cost of $500 million, he told a local seminar.
The projects also include increasing the production capacity of the phosphoric acid plant belonging to subsidiary Indo-Jordan Chemicals (IJC) to 1,500 tonnes per day from 900 tonnes per day and establishing a sulphuric acid unit with a capacity of 2,300 tonnes per day at a total cost of $250 million, he said in comment published by JPMC website on Monday.
This encompasses construction of new phosphate storage facilities in Aqaba to increase storage capacity by 150,000 tonnes at a cost of $100 million, and building new ammonia tanks in Aqaba port at a cost of $40 million.
“These projects represent a big leap in the company's performance and will contribute to maximising returns for shareholders by increasing sales volume by nearly $1 billion and profits by $200 million upon commencement of production,” he said.
(Reporting by N Saeed; Editing by Anoop Menon)
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