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Prime minister witnesses signing of partnership agreement between APC, Albemarle Corp

By JT - Jan 06,2025 - Last updated at Jan 06,2025

Prime Minister Jaafar Hassan on Monday witnesses the signing of a partnership agreement on Monday between the Arab Potash Company (APC) and Albemarle Corporation to implement a joint investment at a value of JD576 million

- Value of joint venture stands at JD576 million, 'largest recorded in years'
- Hassan hails project's economic impact, says it aligns with EMV
- Prime minister describes APC as 'Jordanian success story'
- APC chairman says scheme will provide 650 permanent jobs
- Johnson of Albemarle says projectwill help companies achieve their long-term goals, hails Jordan's investment environment

AMMAN — Prime Minister Jafar Hassan witnessed the signing of a partnership agreement on Monday between the Arab Potash Company (APC) and Albemarle Corporation, the American specialty chemicals manufacturing company, to implement a joint investment at a value of JD576 million ($818 million).

The joint venture, described as the "largest ever recorded in the Kingdom since years," is set to begin this month and span over five years, targeting the creation of  650 permanent job opportunities and hundreds more during its implementation, according to a Prime Ministry statement.

 The project aims to increase the production capacity of the Jordan Bromine Company (JBC), the pioneering producer, distributor, and manufacturer of bromine and its derivatives.

The agreement was signed by Chairman of Board of APC and JBC Board of Directors Shehada Abu Hdeib, CEO of APC Maen Nsour, General Manager of Jordan Bromine Company Samer Asfour, President of Albemarle's Bromine Specialties global business unit Netha Johnson.

The signing ceremony was attended by Minister of Energy and Mineral Resources Saleh Kharabsheh, Minister of State for Economic Affairs Muhannad Shehadeh and US Ambassador Yael Lempert and officials from the three companies.

Prime minister expressed his appreciation for this partnership between APC and the Charlotte-based Albemarle Corp. for investing in the mining sector which, he said, is one of the key pillars of the Economic Modernisation Vision (EMV), vowing full support for investments and commitment to providing all facilitations to ensure their success, the statement said.  

"The investment by Albemarle Global is one of the largest American investments in Jordan and represents a significant project for APC, which is a Jordanian success story, the prime minister said.

He also underlined that Jordan has promising investment opportunities for expansion in various fields, particularly in the mining sector, whether through potash, phosphate, downstream industries, green ammonia, among others.

The prime minister also underlined the significance of the National Railway Project in facilitating mining operations. He said that the mega project, which connects Aqaba with APC and Jordan Phosphate Mines Company (JPMC) plans in Al Shidiyah in Maan, is essential for supporting the mining sector and its exports.

 "The project will facilitate the transportation of the two companies' production to Aqaba, which is envisioned to strengthen its role as a regional logistics hub. He also noted that efforts will be made to link the railway network to the Maan Dry Port, which is expected to be implemented in the near future," he said.

He also commended the efforts of APC in the field of sustainability and its pivotal role in supporting and developing local communities across various sectors, according to the statement.

Abu Hdeib said that the government's support for the expansion project of JBC reflects the significance and role of the company in the chemical industries sector and its contribution to the national economy.

He noted that the expansion project, which is part of APC's plans to expand chemical industries derived from Dead Sea minerals, will provide 650 permanent job opportunities and hundreds of jobs during its implementation.

Nsour said that the expansion project at JBC will increase the production capacity for bromine and specialized derivative materials used in various industrial and medical applications, highlighting that the joint venture will have its positive impact on enhancing industrial exports and creating new job opportunities during the five-year implementation period.

Johnson explained that the project will help companies achieve their long-term goals, including increasing the production capacity of JBC and enhancing its competitiveness in global markets.

He noted that Albemarle chose to expand its production capabilities through Jordan Bromine Company for several reasons, including the attractive investment environment in the Kingdom, the stability of legislation, the strategic location of the company, the availability of raw materials, among others. 

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