AMMAN
— The
Arab Potash Company announced on Wednesday that it had achieved its
highest-ever profits, reaching JD601 million by the end of last year,
Al-Mamlaka TV reported.
اضافة اعلان
The
company attributed the increase in net profits, which is up from JD217 million
at the end of 2021, to the "solid plans" it has been working on since
2019.
In
addition to this, the consolidated net revenue increased to about JD1.3
billion, while the unified operating profit reached approximately JD738 million
by the end of 2022, compared to JD239 million at the end of 2021.
Increase in state treasury paymentsShehadah
Abu Hdaib, the chairman of the
Board of Directors of the Arab Potash Company,
emphasized the importance of the financial results achieved. He said the
"solid plan developed and implemented by the company's executive
management with high efficiency and support from the board of directors
contributed to the improvement of the company's performance level over the past
few years and enabled it to achieve distinguished results in all its activities
related to planning, production, and marketing".
Abu
Hdeib added that the “distinguished financial results” achieved by the company
in 2022 had a positive impact on its payments of fees, taxes, mining revenues,
and profit distributions to the state treasury.
The
company's payments to the treasury increased at the end of last year to reach
approximately JD404 million.
The
financial performance of the company also contributed to its reserves of
foreign currencies in Jordan, where the total amount of foreign currencies
supplied by the company and its subsidiaries and affiliates increased to about
$2.4 billion last year, compared to about $1.3 billion during the same period
of the previous year.
In
addition, Abu Hdaib praised the Jordanian government's role in creating a
favorable investment environment that contributed significantly to the
company's success in achieving its main objectives.
Abu
Hdaib explained that the economic modernization vision launched under Royal
directives highlighted the pivotal and developmental role of the mining and
fertilizer sector in Jordan over the next 10 years.
He
emphasized that the government's laws and legislation governing investment in
the Kingdom have enabled the company to operate in an environment conducive to
growth and expansion.
Expansion
Meanwhile,
the CEO of the Arab Potash Company, Maen Nsour, announced that the company is
implementing future plans and expansion projects in the production of potash
and other derivative industries, investing in the company's infrastructure for
the next five years at an estimated cost of JD1.2 billion.
According
to Nsour, the company's expansion plans include entering new global markets and
improving its competitive position in the markets it already operates in.
The company
is studying several major investment projects, including a specialized
fertilizer complex, expansion of the production of other derivatives through
its subsidiaries and allies, as well as the production of other fertilizers
that are not currently produced in the Kingdom.
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