The APC contributes significantly to Jordan’s economy, with exports comprising 8% of the Kingdom’s total exports. Over the past six years, the company has infused approximately JD 1.1 billion into the treasury and generated $8.6 billion in foreign currency revenues for the national banking sector. Jordanian exports, particularly fertilizers, have seen remarkable growth, with fertilizer exports to the European Union tripling and exports to South America quadrupling over the last four years.
Abu Hdaib highlighted the performance of the APC’s subsidiaries, including the Arab Fertilizers and Chemicals Industries Company (KEMAPCO), the world’s third-largest producer of high-grade potassium nitrate fertilizer, and the Numeira Mixed Salts and Mud Company, a key player in extracting Dead Sea minerals for therapeutic and cosmetic uses. Collectively, these subsidiaries contribute to creating employment opportunities and driving industrial progress.
The APC’s renewable energy projects reflect its commitment to environmental sustainability, aligning with global market standards, especially in Europe. The initiatives reduce carbon emissions, lower operational costs, and promote energy efficiency.
The company has also invested in community development, supporting education, healthcare, infrastructure, and research. Its corporate social responsibility strategy focuses on sustainability and creating tangible, positive impacts on local communities.
Nsour said the company has carried out investment projects worth JD 450 million. These projects include a new pumping station, expanded production capacity for granular potash, solar salt works, and a state-of-the-art operations and logistics center. His Majesty King Abdullah II’s inauguration of these projects reflects the Hashemite leadership’s unwavering support for advancing Jordan’s mining and fertilizer sectors.
Additionally, the APC’s Research, Development, and Innovation Center in Ghor al-Safi fosters advancements in Dead Sea mineral utilization and diversifies product offerings, enhancing Jordan’s global competitiveness. The combined efforts ensure the APC remains a leading global player in mining and fertilizers, contributing to national economic growth and sustainable development.
Nsour highlighted the company’s outstanding operational and financial performance during the 2019-2024 period, reflecting its strategic focus on sustainability and growth. Over these years, the company achieved record production and sales of 15.9 million tons of potash, marking a 17 percent growth in annual output, which increased from 2.4 million tons in 2018 to over 2.8 million tons in 2024.
The company’s capital expenditures during this period averaged $213 million annually, amounting to a total investment of $1.3 billion. Concurrently, the company generated net profits totaling $2.2 billion, equivalent to an annual average of $367 million, indicating efficient resource utilization and cost optimization.
Nsour noted that the APC expanded its product range to nine high-quality potash varieties, compared to just three prior to 2019. These varieties are exported to key global markets, including the European Union, South America, the United States, and Southeast Asia.
The company is poised to maintain substantial investment spending, aligning with plans for sustainable growth. Future projects include boosting production capacities, advancing operational efficiency, and enhancing the adoption of digital and artificial intelligence technologies.
Nsour highlighted a $800 million partnership with the U.S.-based Albemarle Corporation to expand Jordan Bromine Company’s production capacity. Scheduled over five years, the project aims to position Jordan as the world’s largest producer of bromine and derivatives, widely used in industries such as medicine, flame retardants, and water treatment. The expansion is projected to create 650 permanent jobs and increase Bromine’s contribution to the national GDP from 2.2 percent to 5 percent. Exports are also anticipated to double, further bolstering the Kingdom’s trade balance.
Nsour underscored the importance of addressing key challenges in the mining sector, such as operational efficiency, environmental compliance, and investment frameworks. The 2024-2034 sectoral strategy, part of the Economic Modernization Vision, aims to elevate Jordan’s role in global fertilizer and chemical industries, promoting clean energy solutions and high-value derivatives.
The Government Investments Management Company holds a 26 percent stake in the Arab Potash Company, followed by the Chinese SDIC Group (28 percent) and other shareholders, including regional and international investment entities.
Nsour concluded by reaffirming the company’s commitment to driving economic sustainability and solidifying Jordan’s leadership in global industrial and mining markets.
End
//Petra// AJ
25/01/2025 12:48:42
