Amman, Jan. 6 (Petra) — Jordan’s Arab Potash Company (APC) and U.S.-based Albemarle Corporation signed a JOD 576 million ($813 million) joint investment agreement on Monday to expand bromine production capacity at Jordan Bromine Company (JBC), one of the largest U.S. investments in the kingdom’s mining sector to date.
Prime Minister Jafar Hassan witnessed the signing ceremony at APC’s Ghor Al-Safi facility, where the project is set to begin this month.
The five-year expansion will create 650 permanent jobs and hundreds of temporary positions during construction, aiming to increase JBC’s production capacity of bromine and specialized derivative materials while providing necessary production requirements.
APC and JBC Chairman Shehada Abu Hudeib, APC CEO and JBC board member Maen Al-Nsour, JBC General Manager Samer Asfour, and CEO of Global Specialties at Albemarle and JBC board member Netha Johnson signed the agreement.
U.S. Ambassador Yael Lempert, Energy Minister Saleh Al-Kharabsheh, Minister of State for Economic Affairs Muhannad Shehadeh, and officials from all three companies attended the ceremony.
Hassan emphasized mining as a key pillar in Jordan’s Economic Modernization Vision, noting promising investment opportunities in potash, phosphate, manufacturing industries, and green ammonia.
He highlighted the national railway project connecting Aqaba to APC and phosphate facilities in Shidiya as essential for supporting mining exports and enhancing Aqaba’s role as a regional logistics hub, with plans to connect to the future Ma’an dry port.
The prime minister commended APC’s sustainability efforts and corporate social responsibility in supporting local community development across various sectors.
Abu Hudeib emphasized that government support for JBC’s expansion reflects the company’s importance in the chemical industries sector and its contribution to the national economy.
He praised government efforts across ministries and institutions in creating an attractive investment environment, crucial for implementing the bromine production expansion.
The project aligns with APC’s plans to expand chemical industries derived from Dead Sea minerals and supports the Economic Modernization Vision’s mining sector initiatives, including improving local products, increasing productivity, and enhancing investment in natural resources exploitation.
Al-Nsour revealed the expansion project will be implemented in four phases starting in 2025. The project will boost national industrial exports and create hundreds of permanent jobs post-completion, demonstrating Jordanian industries’ capabilities.
Johnson attributed Albemarle’s expansion decision to Jordan’s attractive investment environment, regulatory stability, strategic location for global market access, Dead Sea mineral resources availability, and qualified workforce.
The 25-year partnership between Albemarle and APC was cited as a key factor in the investment decision, built on positive relations developed over that period.
//Petra// AA
06/01/2025 17:29:05
