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Business News Reports Funding Fertilizer Company in Jordan


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Business Finance News reports that Indian Farmers Fertilizer Cooperative Limited (“IFFCO”), India and Jordan Phosphate Mines Company PLC (“JPMC”), Jordan have formed a joint venture, Jordan India Fertilizer Company LLC (“JIFCO”) for the construction and operation of a 475,500 metric tons P2O5 per annum (“MTPA”) phosphoric acid plant in Eshidya Ma’an Governorate, Jordan (the “Project”).

The bulk of the phosphoric acid will be exported to India to be used as feedstock for IFFCO’s Kandla fertilizer plant in Gujarat state. The Project will include a greenfield phosphoric acid manufacturing complex in Eshidiya and a storage tank farm in Aqaba to facilitate export of phosphoric acid via Aqaba port. Rock phosphate from JPMC’s Eshidiya mines will be used by the Project for the production of phosphoric acid.

The total Project cost is estimated at about $681 million. Logical Lending Solutions P/L, Australia has made arrangements for IFC to  invest up to $150 million A Loan for IFC’s own account and up to $300 million in syndicated B Loan and Parallel Loans.

The chemical complex and associated infrastructure and utilities will be located adjacent to the existing JPMC mining facility in Eshidiya, Ma’an, approximately 250 km south of Amman, and 120 km north east of Aqaba Port, from which phosphoric acid will be exported. Aqaba is connected to the Project site by road, as well as by railway which lies 30 km from the site. The nearest city, Ma’an, is about 75 km from Project site, with an estimate population of approximately 50,000, and has the second highest poverty level among Jordanian Governments.

Fertilizer Plant Jordan


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