PPP council formed to boost mining sector, attract investments

India approves MoUs signed with JPMC worth $1.5 billion

Saleh Al-Kharabsheh
Minister of Energy and Mineral Resources Saleh Kharabsheh. (File photo: Jordan News)
AMMAN — Minister of Energy and Mineral Resources Saleh Kharabsheh announced the formation of a public-private partnership (PPP) council for mining to deliver better services and raise the sector’s contribution to the gross domestic product, according to the Jordan News Agency, Petra.اضافة اعلان

Kharabsheh stressed the importance of PPPs as part of measures taken in line with the Economic Modernization Vision, which will boost Jordan’s mining industries. He pointed to the need to establish a research center for mining and metallurgy.

“Work is under way to develop a national program for mining, provide survey-related data, harmonize regulations with international standards, review the system of financial incentives, and attract foreign investment,” the minister said Tuesday.

He added that efforts are focused on establishing downstream industry projects, as well as launching a financing program to attract professionals and upgrade mining techniques.

“The ministry is promoting the mining sector to raise its economic indicators, with the aim of expanding its exports by 10.5 percent annually, to reach $5 billion in 2033,” Kharabsheh noted.
... The Indian government has approved the memos in the field of mining and utilization of Jordanian crude phosphates.
Meanwhile, the Indian Federal Cabinet approved memoranda of understanding (MoUs) worth $1.5 billion signed by the Jordan Phosphate Mines Company (JPMC) and India last May for cooperation in the mining and phosphate industries, Al-Mamlaka TV reported.

According to a disclosure by the JPMC on the Amman Stock Exchange website, the Indian government has approved the memos in the field of mining and utilization of Jordanian crude phosphates.

The memoranda include establishing a factory in Jordan to produce phosphoric acid and fertilizers from compound fertilizers for the purpose of exporting them entirely to India under a long-term contract, and supplying Indian factories with Jordanian crude phosphate.

The JPMC said that the memos that were signed will boost profitability and enhance its financial position.

Under the agreements, two phosphoric acid factories will be built in Shidiya and Aqaba after concluding economic and technical feasibility studies.

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