$350m agreement to build industrial complex in Aqaba signed

GMT 21:11 2014 Monday ,15 September

Arab Today, arab today $350m agreement to build industrial complex in Aqaba signed

Jordan Phosphate Mining Company
Amman - Petra

The Jordan Phosphate Mining Company and Chinese Chong Qing Minerals and Metallurgy Company signed an agreement to build an industrial complex in Aqaba to produce fertilizers at an investment of $350 million in the initial phase.
Board Chairman of the phosphate company, Amer Majali, said the new industrial complex comes in line wtith the company's strategy, which aims to enhance the exploitation of phosphate ores, and produce added value products, instead of exporting it as raw materials.
To achieve this strategy, Majali added, the company struck partnerships with leading global fertilizers' importers and a joint venture with an Indian company for the production of phosphoric acid in Maan governorate.

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