JPMC, India's TAIL sign $400mln MoU to produce phosphoric acid, DAP fertilizer

Home Business JPMC, India's TAIL sign $400mln MoU to produce phosphoric acid, DAP fertilizer 24-03-2022 08:30 AM Ammon News - The Jordan Phosphate Mines Company (JPMC) and India’s Teesta Agro Industries Limited (TAIL) on Wednesday signed a memorandum of understanding (MoU) to establish a company to produce phosphoric acid and Di-Ammonium Phosphate (DAP) fertilizer in Jordan. The estimated cost of the newly-announced company stands at $400 million, with a production capacity of 300,000 tonnes annually, which will be exported to India, according to a JPMC statement. The two sides also agreed to hold the first meeting to discuss procedures to establish the fertilizer company in Amman within 4 months. In addition, the JPMC signed an agreement, under which the company supplies India's Oswal Agro Chemicals & Fertilizers Private Limited with its need of low quality phosphate at an amount of 500,000 tonnes per year for a 10-year period, based on quarterly global prices. The agreements were signed by the JPMC Chairman, Dr. Mohammad Thneibat, General Manager of India’s Teesta Agro Industries Limited, Paramdeep Singh, and Oswal's CEO.

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JPMC, India's TAIL sign $400mln MoU to produce phosphoric acid, DAP fertilizer

24-03-2022 08:30 AM

Ammon News - The Jordan Phosphate Mines Company (JPMC) and India’s Teesta Agro Industries Limited (TAIL) on Wednesday signed a memorandum of understanding (MoU) to establish a company to produce phosphoric acid and Di-Ammonium Phosphate (DAP) fertilizer in Jordan.

The estimated cost of the newly-announced company stands at $400 million, with a production capacity of 300,000 tonnes annually, which will be exported to India, according to a JPMC statement.

The two sides also agreed to hold the first meeting to discuss procedures to establish the fertilizer company in Amman within 4 months.

In addition, the JPMC signed an agreement, under which the company supplies India's Oswal Agro Chemicals & Fertilizers Private Limited with its need of low quality phosphate at an amount of 500,000 tonnes per year for a 10-year period, based on quarterly global prices.

The agreements were signed by the JPMC Chairman, Dr. Mohammad Thneibat, General Manager of India’s Teesta Agro Industries Limited, Paramdeep Singh, and Oswal's CEO.

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