King inaugurates new potash plant

By Mohammad Ghazal

GHOR AL SAFI – His Majesty King Abdullah on Tuesday inaugurated a new $500 million potash production plant at the Arab Potash Company (APC).

The Monarch toured the new facilities and was briefed on the projects.

During the opening ceremony, Chairman of the Board of Directors of the APC Nabih Salame said the new production plant will increase the overall production capacity to 2.5 million tonnes per year from two million tonnes currently.

The new plant is equipped with top-of-the-line technology that minimises potash dust and gaseous emissions. The new technology also improves efficiency in terms of electricity and water consumption to ideal levels, according to the APC.

In addition to the new plant, the APC has further improved the solar pond system and the power plant to increase system longevity and develop productivity. The APC has also built a new potash warehouse in Ghor Al Safi, while expanding and upgrading the existing warehouse in Aqaba, according to a brochure from the company.

Salame added that the new expansion project, on which work started in 2005, will create new jobs and support the national economy, stressing that it will have a positive impact on the company’s performance and its staff of about 2,500.

Salame underlined the company’s commitment to supporting local communities in the Jordan Valley, adding that it supports several health, education and economic initiatives.

The APC, which has annual sales of about $634 million, represents about 4 per cent of global potash production, according to the company.

Among APC’s shareholders are the governments of Kuwait, Jordan, Iraq and Libya. Moreover, Potash Corp of Canada is a main shareholder and strategic partner of APC, holding about 27 per cent of the equity.

Other shareholders include the Arab Mining Company, the Islamic Development Bank as well as the Social Security Corporation in Jordan.

Abdullah Hassan Al Bader, a board member and a representative of the General Commission for Investments in Kuwait, told The Jordan Times yesterday that several Kuwaiti entities have invested in the company as it is promising and has great potential.

Bader added that the suitable investment climate in Jordan and stability in the country coupled with transparency and proper management at the company attracted these investments.

jordantimes