JPMC and Transpet: $400M joint phosphoric acid factory in Aqaba

Jordan Phosphate Mines Company  JPMC
(Photo: Twitter/X)
AMMAN Jordan Phosphate Mines Company (JPMC) and Turkish Transpet Petroleum and Energy Company signed an agreement on Tuesday to establish a joint factory for phosphoric acid (P2O5) in Aqaba. The project, with a budget of $400 million, is expected to have an annual production capacity of up to 300,000 tonnes.اضافة اعلان

The agreement, inked at the headquarters of the Aqaba Special Economic Zone Authority (ASEZA), represents the largest Turkish-Jordanian investment in the phosphate and phosphate fertilizer sector to date. It was signed by JPMC Chairman, Mohammed Thneibat, and Transpet Chairman, Ramazan Ostruk.
During the signing ceremony, Thneibat emphasized the significance of the new agreement and the partnership with Turkish Transpet. He highlighted the potential for increased cooperation between the two nations in the phosphate fertilizer industry and the attraction of Turkish investments to Jordan, the Jordan News Agency, Petra reported.

Thneibat mentioned that the establishment of the new factory aligns with JPMC's ongoing efforts to prioritize manufacturing industries. Furthermore, he pointed out that the collaboration with Turkish Transpet to set up the factory over a 3-year span is projected to create hundreds of job opportunities. This initiative will contribute to national efforts to address unemployment.

Thneibat added that this agreement is a continuation of a series of agreements JPMC has entered into with various international entities in the phosphate and phosphate fertilizer industry. Such collaborations enhance JPMC's standing on both regional and global scales.

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