IFFCO to set up JV plant in Jordan
Fertiliser major IFFCO has signed an MoU with Jordan Phosphates Mines Company (JPMC) for setting up a 1,500 tonne phosphoric acid plant in southern Jordan at an investment of $350 million.
By PTI |
NEW DELHI: Fertiliser major IFFCO has signed an MoU with Jordan Phosphates Mines Company (JPMC) for setting up a 1,500 tonne phosphoric acid plant in southern Jordan at an investment of $350 million.
IFFCO and its associates will hold 52 per cent stake in the new entity while JPMC will hold 48 per cent.
The utilities and other related facilities would be located adjacent to Eshydia Mine in Jordan and the acid produced will be sold in the international market or used IFFCO in its plants in India.
The total phosphate demand in the country is about 5.2 million tonnes whereas the total production in only 4.2 million tonnes. India imports 2.6 million tonnes of finished phosphoric acid whereas its indigenous production is only about 1.2 million tonnes.
IFFCO and its associates will hold 52 per cent stake in the new entity while JPMC will hold 48 per cent.
The utilities and other related facilities would be located adjacent to Eshydia Mine in Jordan and the acid produced will be sold in the international market or used IFFCO in its plants in India.
The total phosphate demand in the country is about 5.2 million tonnes whereas the total production in only 4.2 million tonnes. India imports 2.6 million tonnes of finished phosphoric acid whereas its indigenous production is only about 1.2 million tonnes.
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