Arab Potash Company (APC) on Jan. 11 launched its 2024-2028 strategy and unveiled its new headquarters in Ghor Al Safi, some 133 kilometers south of the Jordan capital of Amman. APC’s previous headquarters was in Amman, while Ghor Al Safi was the location of its main potash operations.
As part of its 2024-2028 strategy, APC expects to spend more than JD1.2 billion (approximately $2.96 billion) over the next five years on expansion projects aimed at increasing production volumes and enhancing the company’s global competitiveness, according to Middle Eastern business and finance news portal Zawya. The report, however, provided few details of the planned and mooted projects.
APC produced a record 2.684 million mt of potash in 2022, according to its website. Of this total, some 295,000 mt comprised red granular potash, a recent addition to APC’s portfolio.
According to the report, Jordan’s Prime Minister Bisher Al Khasawawneh, who attended the strategy launch, stressed the need to develop new products from potash and phosphate to benefit from higher value products, as per Jordan’s new Royal directive issued in February 2023.
Jordan’s government has asked APC and Jordan Phosphate Mines Co. (JPMC) to proceed “immediately” to finalize discussions and make the necessary arrangements to establish a joint-venture phosphoric acid plant, according to the report. In February last year, the two companies inked three Memoranda of Understanding (MOU) related to the ammonia and specialized fertilizer sectors, and for conducting joint studies (GM Feb. 17, 2023).