JPMC and Transpet to set up joint phosphoric acid factory in Aqaba

The Jordan Phosphate Mines Company (JPMC) and Turkey’s Transpet agreed on Tuesday to establish a joint phosphoric acid production facility in the Red Sea city of Aqaba, the MENAFN news agency reported.

The project, which will cost $400mn, represents the largest Turkish-Jordanian investment in the phosphate fertilizer industry to date, MENAFN said.

The news agency added that it will take three years to build the factory, which, once operational, will be capable of producing 300,000 tonnes of phosphoric acid annually.

MENAFN said that JPMC’s chairman, Muhammad Thneibat, hailed the deal with Transpet, and emphasized the potential for further cooperation between Turkey and Jordan in the production of phosphate fertilizer.

Transpet’s chairman, Ramazan Ostruk, meanwhile praised the ‘advanced state’ of the kingdom’s fertilizer industry – and also indicated that there could be scope for further bilateral collaboration.