King urges developing phosphate exports to include downstream industry products

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Jordan

Date: 01-May-2024
Source: Ammon News
Sector: Financial Services
Country: Jordan
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King urges developing phosphate exports to include downstream industry products

Ammon News - His Majesty King Abdullah II on Tuesday stressed the importance of developing the Jordan Phosphate Mines Company’s (JPMC) exports to include downstream industry products with high economic value, in order to alleviate the impact of price fluctuations and enhance competitiveness.

During a meeting with JPMC representatives, attended by His Royal Highness Crown Prince Al Hussein bin Abdullah II, His Majesty praised the results achieved by the company in recent years, calling for developing an ambitious investment plan consistent with the goals of the Economic Modernisation Vision, in terms of expanding investment, increasing growth and employment, and boosting modern industries.

During the meeting, attended by Prime Minister Bisher Khasawneh, JPMC Chairman Mohammad Thneibat spoke about the company’s keenness to improve the quality of production and increase its volume, as well as increase sales.

Thneibat said the company has also established new partnerships and started implementing new projects to increase revenues and strengthen its financial and competitive standing.

He added that the company's new projects are expected to contribute to a total increase in sales of approximately $1.2 billion, and an increase in profits no less than $500 million, in addition to creating 1,000 new job opportunities.

The government owns the largest share in

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