Unveiling the Future: JPMC's Ground-breaking Phosphoric Acid Plant in Al Shidiyah, Jordan
- 19-Jul-2023 3:34 PM
- Journalist: Nicholas Seifield
Jordan: The Jordan Phosphate Mines Company (JPMC) said at a panel discussion on Monday that it intends to build a Phosphoric Acid plant in Maan's Al Shidiyah neighborhood in partnership with a Turkish business.
According to Thneibat, the Phosphoric Acid factory will be able to produce 165,000 tonnes of phosphorus pentoxide (P2O5) annually.
He also emphasized how the $85 million phosphate washing and flotation plant project in the Al Shidiyah area—which was developed in collaboration with Ideal Advanced Manufacturing Company—is anticipated to bolster the Kingdom's Phosphate exports, boost the national economy, and bring in at least JD150 million in annual profits for the JPMC.
Along with other industries, the initiative will bring about 250 direct jobs and at least 2,000 indirect jobs in the transportation and logistics sectors.
Thneibat also brought up the JPMC's policies and the progressive changes in production, sales, and profits that have followed during the panel. In 2023, the JPMC will be ranked 71st among the 100 most powerful firms in the Middle East thanks to this policy, making it the eighth-ranked power player among the top industrial companies in the Middle East.
The company's financial turnaround, which saw it go from a JD90 million loss and JD440 million in debt in 2016 to an astonishing net profit of JD1.160 billion over the previous five years, was described as "noteworthy" by the chairman.
Additionally, the JPMC significantly increased its tax contribution to the Kingdom's coffers last year from JD101 million to JD226 million. According to Thneibat, the company has paid JD136 million in mining royalties and JD369 million in taxes over the past five years.
JBA President Hamdi Tabbaa noted that the government launched a strategy and an interactive map for marketing mineral resources in 2020 to attract investors, position Jordan on the global mining map, and increase the contribution of the mining sector to GDP from 7.7% to 11% by 2025.
According to Tabbaa, mines and quarries contributed JD791 million or 2.9% more to Jordan's GDP last year. With a growth rate of 3.3%, manufacturing industries contributed JD5.5 billion to the GDP in 2022.A public shareholding limited company; Jordan Phosphate Mines Co. was established in 1949. It currently has JOD 247.5 million in capital. Jordan is where the company plans to mine and process Phosphate ore.
The Company has established its leading position among the global corporations in the industries of mining and fertilizer production during the last 60 years. It now constitutes a significant portion of Jordan's exports and economic structure.
The Jordan Phosphate Mines Company's operations can be divided into two complimentary industries: mining and phosphate fertilizer manufacturing. The organization has successfully established its skills in the worldwide markets through the combination of both industries.