AMMAN — The
Jordan Phosphate Mines Company (JPMC) and India’s Teesta Agro Industries
Limited (TAIL) on Wednesday signed a memorandum of understanding to establish a
company to produce phosphoric acid and diammonium phosphate fertilizer in
Jordan.
اضافة اعلان
The estimated cost of the
newly-announced company stands at $400 million, with a production capacity of
300,000 tonnes annually, which will be exported to India, according to a JPMC
statement carried by the Jordan News Agency, Petra.
The two sides also agreed
to hold the first meeting to discuss procedures to establish the fertilizer company
in Amman within four months.
In addition, the JPMC
signed an agreement, under which the company supplies India's Oswal Agro
Chemicals & Fertilizers Private Ltd with its need of low quality phosphate
at an amount of 500,000 tonnes per year for a 10-year period, based on
quarterly global prices.
The agreements were
signed by the JPMC Chairman
Mohammad Thneibat, General Manager of India’s
Teesta Agro Industries Limited Paramdeep Singh, and Oswal's CEO.
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