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AMMAN — The Social Security Investment Fund (SSIF) has signed a memorandum of understanding with the Arab Mining Company (AMC) under which SSIF will explore the potential acquisition of a stake in the Arab Phosphate Mining Company, AMC's wholly owned subsidiary developing a phosphate fertiliser manufacturing project in Jordan.
The agreement was signed by SSIF Chief Executive Officer Izzeddin Kanakrieh and AMC Chairman of the Board of Directors Mohammed Shahi, in the presence of Social Security Investment Board Chairman Omar Malhas, AMC Director-General Hassan Takrouri, and senior officials from both organisations, according to an SSIF statement.
Speaking at the signing ceremony, Malhas described the MOU as an important step towards exploring an investment opportunity in a sector where Jordan holds genuine competitive advantages.
He emphasised SSIF's focus on projects that maximise the value added of national resources and generate sustainable economic impact, noting that the fund's existing investments in the mining sector stand at approximately JD1.8 billion.
Kanakrieh said that the MoU will enable the fund to review the project's technical, economic, and environmental studies and complete the assessments required for an investment decision in line with SSIF's institutional frameworks.
"SSIF follows a rigorous methodology grounded in feasibility analysis and risk management before committing to any new investment," he said, adding that the fund remains focused on opportunities that combine viable financial returns with meaningful development impact in support of Jordan's Economic Modernisation Vision.
Shahi welcomed the agreement, describing it as a model partnership between leading investment and development institutions.
"This MOU is a first and significant step towards a promising opportunity in Jordan's mining and phosphate industries," he said.
"Through the phosphate mining project in the Al Risha area and the development of an integrated fertiliser industry, we aim to maximise the utilisation of Jordan's natural resources in alignment with sustainable economic development goals," Shahi added.
Established under a resolution of the Arab Economic Unity Council, AMC is a pan-Arab joint company headquartered in Amman.
The company develops mining and manufacturing projects across the Arab world with the aim of advancing economic integration and sustainable development, according to the statement.
