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JPMC, APC to expand exports to India

By JT - Feb 28,2018 - Last updated at Feb 28,2018

His Majesty King Abdullah meets with leading Indian Businessmen in India on Wednesday (Photo courtesy of Royal Court)

AMMAN — Jordan Phosphate Mining Company (JPMC) and the Arab Potash Company (APC) signed a memorandum of understanding (MoUs) on Wednesday with Indian companies to bring up their exports to the Indian market, according to the Jordan News Agency, Petra. 

The MoUs were signed in the Indian capital, New Delhi, as His Majesty King Abdullah is visiting India in a bid to boost Jordanian-Indian business cooperation.

Petra said JPMC signed six agreements with different Indian companies to export phosphate to India. Under the deals, that will be implemented this year, it will initially provide the Indian market with around 3 million tonnes of phosphate. Exported quantities are expected to go up to 10 million tonnes of “raw phosphate” over the coming three years, Petra indicated. The value was not disclosed.  

The JPMC, which exports around 60 per cent of its production to the Indian market, also signed an agreement with an Indian company to acquire 250,000 tonnes of “phosphate fertilisers”, Petra reported.

Founded in 1949, the Amman Stock Exchange listed company, JPMC, operates three mining facilities in Jordan and a chemical manufacturing complex in Aqaba.

Moreover, on the sidelines of the India-Jordan Business Forum, which convened in New Delhi on Wednesday, the APC and Indian Potash Ltd. signed an MoU under which the APC will provide the Indian company with 375,000 metric tonnes of product, in addition to other quantities over five years. The two sides are to agree on prices on annual basis, in accordance with the prices at global markets.

The APC also signed a three-year MoU with Zuari Agro Chemicals Ltd. to provide it with different quantities, Petra reported. 

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