MOU signed for new Jordanian project

White Valley, Jordan-A Memorandum of Understanding has been signed between Venture Capital Bank, an Islamic investment bank based in Bahrain; Jordon Arab Fertilizers and Chemicals Co. (JAFCCO); and Jordan Phosphates Mines Co. (JPMC) to establish a chemical fertilizer complex at the White Valley in southern Jordan. The facility would produce sulfate of potassium (80,000 mt/y), sulfuric acid (75,000 mt/y), technical and food grade phosphoric acid (22,000 mt/y), and calcium chloride (50,000 mt/y). Completion is expected to take two years; the products would be marketed to neighboring and international markets. Raw materials would be provided by JPMC and Arab Potash Co.