PM lays foundation stone for phosphate washing factory

AMMAN — Prime Minister Bisher Al Khasawneh on Thursday laid the foundation stone for a factory that will wash and float phosphate in Al Sheidiyeh in Amman with an investment volume of $85 million.

The project, implemented by the Jordan Phosphate Mines Company (JPMC), in cooperation with the Ideal Development Company for Manufacturing Industries, aims at washing and floating large amounts of low-quality phosphate that has been stored over decades and extracting and reproducing high-quality phosphate.

The project seeks to produce phosphate that is in accordance with the requirements of JPMC's clients and importers, which would enhance the Kingdom's exports and support the national economy, the Jordan News Agency, Petra, reported. 

Khasawneh expressed happiness for this vital project, expressing hope that the venture will start operation after 15 months.

The prime minister stressed that the comparative advantage of such projects is that they deal with various governorates based on their individual qualities and use their reserves of natural resources in the "best way", which ensures integration while seeking sustainable development and heading towards self-resilience.

He noted that the comprehensive modernisation project adopted by His Majesty King Abdullah as the country enters its second centennial with all its political, economic and administrative tracks will be implemented with utmost strictness and commitment. 

The premier said that the economic vision addresses basic growth plans for the national economy, including attracting direct foreign investments worth some JD1.5 billion over the next 10 years, expressing the government's commitment to enhancing an environment that can attract the private sector and investments.

JPMC Chairman Mohammed Thneibat said that the project will provide some 250 direct jobs and some 2,000 indirect jobs in sectors like transport and logistics services.

Thneibat said that the venture will provide the Treasury with JD100 million annually from taxes and will generate profits for the company of no less than JD100 million.