jordan pulse -
On Tuesday, His Majesty King Abdullah II directed the government to facilitate the Arab Potash Company’s projects in the water and energy sectors, including solar energy initiatives, to enhance its competitiveness in global markets.
During a meeting held at Al-Husseiniya Palace with representatives of the Arab Potash Company, in the presence of His Highness Prince Hussein bin Abdullah II, the Crown Prince, His Majesty praised the development the company has witnessed in accordance with its investment plan, which is consistent with the goals of the economic modernization vision.
His Majesty the King called for accelerating work on expansion projects, high-value-added investments, and sustainable energy projects, which are compatible with Jordan's environmental commitments.
His Majesty stressed the importance of giving priority to sectors that achieve added economic value and provide job opportunities, stressing the importance of the government and the potash company working to study cooperation and investment opportunities to develop the Risha gas field after the completion of exploration work.
His Majesty the King praised the efforts of the Arab Potash Company in attracting talent, strengthening governance, and developing new products and markets.
For his part, Prime Minister Bisher Al-Khasawneh indicated that the government is working to advance national industries and invest in the natural minerals that Jordan is rich in.
He stated that the government realizes that it is necessary to provide a suitable environment for the industrial sector in general and for the Arab Potash Company in particular, in a way that enables the company to compete in global markets, based on its projects included in its strategy for the next five years (2024-2028), pointing to the main role of the sectors. Mining and fertilizers are at the heart of the economic modernization vision.
The Chairman of the Board of Directors of the Arab Potash Company, Shehada Abu Hadeeb, said that the company is one of the pillars of the national economy, through its direct payments to the Kingdom’s treasury, which represent about 65% of the company’s profits, and that the company and its subsidiaries are considered one of the largest employers of labor in the industrial sector, pointing out To the collaborative relationship between the potash company and the government.
The company's CEO, Maan Ensour, reviewed the company's performance indicators during the period (2014-2023), which witnessed an increase in the volume of production and sales.
Regarding the indicators for the period (2019-2023), Al-Nsour explained that the company’s manufacturing volume reached 13.1 million tons, while the value of its net sales amounted to $4.7 billion, with net profits amounting to $2 billion, and a contribution to the foreign currency reserve amounted to $7.3 billion.
He pointed out that the pillars of the company's strategy for the years (2024-2028) include research, development, innovation, automation, and sustainability.
The company's future projects include expanding bromine production, expanding projects in the southern regions, building an industrial complex in Aqaba, in addition to increasing potash production by 35 percent through implementing projects worth $1.2 billion out of a total investment worth $1.5 billion for the next five years.
The meeting was attended by the Director of His Majesty the King's Office, Dr. Jaafar Hassan, and the Minister of Energy and Mineral Resources, Dr. Saleh Al-Kharabsheh.