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Rising profits place JPMC 82nd among largest Middle Eastern companies — chairman

By JT - Nov 14,2022 - Last updated at Nov 14,2022

JPMC Chairman Mohammad Thneibat speaks during a meeting with members of the Association of Workers in Mining and Cement on Monday (Petra photo)

AMMAN — The Jordan Phosphate Mines Company (JPMC) ranks 82nd among the largest, highest value and most profitable companies in the Middle East, with a market value of approximately $4.5 billion, JPMC Chairman Mohammad Thneibat said on Monday.

During a meeting with members of the Association of Workers in Mining and Cement, Thneibat said that new company procedures have contributed to a leap in production, sales and profits, which exceeded JD600 million by the end of the third quarter of 2022, the Jordan News Agency, Petra, reported. 

He identified improvements in work, performance and production, management of expenditures and the search for new opportunities, markets and partnerships as the top concerns and priorities for JPMC's board of directors and executive management. 

Thneibat also attributed the company's successes to the cooperation and dedication of workers.

The chairman added that the board of directors seeks to embody transparency, institutionalism and integrity in all of JPMC's activities. 

JPMC CEO Abdulwahab Ruwad reviewed the company's plans to establish new factories in cooperation with Jordanian and international partners.  

Khaled Fanatsah, head of the association, said that JPMC's achievements enhance its status at the local and international levels and boost its ability to compete in global markets, providing opportunities to realise plans for expansion.

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