Jordan Times
Wednesday, December 23, 1998
Jordanian -Pakistani joint venture inaugurated in Karachi
AMMAN (J.T) — Prime Minister of the Islamic Republic of Pakistan Muhammad Nawaz Sharif, last week inaugurated a joint venture between the Jordan Fertilizer Company Ltd. and FFC, a Pakistani Company at Bin Qasim in Karachi.
The project, which has a 10 per cent Jordanian equity envisages annual production capacities of 445000 metric tons of DAP and 551000 metric tons of urea for the domestic use in Pakistan.
The total investment cost of the project is $370 million.
Phosphoric acid 210,000 tons per annum for this project shall be totally supplied by Jordan Phosphate Mines Company, which will consume about 750,000 tons of Jordanian rock phosphate.
FFC and Fauji Foundation have 40 per cent of the equity and the remaining capital will be subscribed by renowned international financial institution besides Pakistani institution and general public.
Trade between Pakistan and Jordan will remarkably increase, leaving FFC as one of Jordan Phosphate Mines Co. larges trading partners.
Sameh Madani, managing director of Jordan Phosphate Mines Company Ltd, attended the inauguration ceremony.