Latest news with #ArabPotash
Zawya
26-06-2025
- Business
- Zawya
Jordan: APC pays over $1.5blb to Treasury since 2019 — Chairman
AMMAN — Chairman of the Board of Directors of the Arab Potash Company (APC) Shehada Abu Hdeib on Wednesday stressed that the company has developed an industrial and development "model" to be followed in Jordan and the region. During a dialogue session organised by the Amman Group for Future Dialogues, with the participation of APC CEO Maan Nsour, Abu Hudaib said that the company has achieved "qualitative" leaps in its operational efficiency since 2019, the Jordan News Agency, Petra, reported. He added that these strides have strengthened APC's position as a "major" supplier of fertilisers in global markets, which contributed to securing agricultural supply chains in multiple regions of the world. He presented the "growth strategy" for the fertilisers and derivative chemicals sector for the years 2024-2034, which is in line with the Economic Modernisation Vision, aiming to consolidate Jordan's position as a "major" exporter of fertiliser and chemical products at the regional and global levels, Abu Hudaib pointed out that the company is boosting its global presence through integration with other national companies, such as the Jordan Phosphate Mines Company, through joint projects related to producing phosphoric acid and specialised fertilisers. The chairman also referred to the expansion project in Jordan Bromine Company, which consists of four main parts, with a total cost of $813 million. He presented the "huge" financial contributions of the company in supplementing the state Treasury, as APC, since 2019, has paid more than JD1.1 billion as payments to the state Treasury, in addition to enhancing the foreign currency reserves in the banking system in the Kingdom by about $8.6 billion. Abu Hudaib pointed out that the APC is one of the few companies that apply an institutional and advanced system in social responsibility programmes, as the volume of its contributions exceeded JD66 million over the past five years. He noted that the company raised the quantities produced from 2.4 million tonnes in 2018 to 2.84 million tonnes in 2024, 'a record achieved thanks to qualitative projects in raising operational efficiency.' The company's production capacity of new products, such as red granular potash and ordinary red potash, where six new varieties of them meet the requirements of the markets in Europe, Asia and the Americas. Nsour discussed the financial impact of this performance, where net profits amounted to JD1.6 billion over five years. The CEO noted that the profits from the production and sale of potash accounted for 54 per cent of the total profits achieved by the APC in 2018, rising to 73 per cent in 2024, reflecting the strength of the company's core operations. He reviewed the company's strategy for the years 2024-2028, which focuses on enhancing the company's ability to expand production, diversify the product portfolio, adopt the latest manufacturing technologies, apply digitisation and artificial intelligence systems, invest in research, development and innovation, and entre promising transformational industries such as lithium, ammonia and specialised fertilisers. Regarding future plans, Nsour revealed that the company will implement capital investments worth $3 billion until 2034, including the southern expansion project, which aims to increase potash production to about 3.7 million tonnes per year. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Ammon
20-04-2025
- Business
- Ammon
PM praises Arab Potash Company's JD30m pledge for education, health
Ammon News - Prime Minister Jafar Hassan has praised the Arab Potash Company for committing JD 30 million over the next three years to support the education and health funding, part of the company's corporate social responsibility (CSR) program, adds to its ongoing development and charitable contributions to local a meeting Sunday with Arab Potash Chairman Shehadeh Abu Hdaib, the Prime Minister emphasized that such private sector contributions significantly bolster government efforts to improve these vital sectors and enhance services for noted that total CSR funding pledged for health and education over the next three years has reached roughly JD 170 million within the last two months stressed the importance of formalizing these contributions, highlighting previous commitments: JD 90 million over three years from the Association of Banks in Jordan, JD 40 million from the Jordan Phosphate Mines Company, and pledges from both the Jordan Petroleum Refinery Company and Jordan Free Zones Company to dedicate 5 percent of their annual Prime Minister expressed hope that other private sector institutions will follow Arab Potash's lead. He underscored the need for CSR to become a sustained development strategy, independent of changing governments or corporate explained that specific projects funded through the CSR initiative will be identified annually, with the first round announced next month. A dedicated account has been established at the Central Bank, and funds will be disbursed in coordination with contributing companies as projects added that schools and health centers built with private funding will be clearly marked to foster a culture of giving, solidarity, and public-private Prime Minister also commended Arab Potash for expanding its investments and strengthening its global market position, citing a recent expansion agreement with the American company Palmarl valued at over $800 Abu Hdaib affirmed that Arab Potash strives to balance commercial success with its community role. He stated the JD 30 million pledge supports national initiatives, spearheaded by the government in collaboration with the private sector, aimed at institutionalizing CSR and leveraging the private sector's potential in national Hdaib elaborated that the commitment stems from the company's belief in investing in people for sustainable development and a sense of national responsibility."Comprehensive development isn't possible without real investment in people," he noted, adding that the initiative strengthens public-private partnerships. He confirmed the company maintains a robust CSR strategy focused on long-term development assured that this new commitment will not detract from the company's other CSR activities, noting that Arab Potash has already contributed over JD 66 million through these programs in the past five Hdaib asserted the company will continue to be a national enterprise focused not just on profit, but on making a lasting positive impact and serving the nation alongside its meeting was also attended by Minister of State for Economic Affairs Mohannad Shehadeh and Government Communication Minister Mohammad Momani. During the session, Abu Hdaib outlined key projects under the company's 2025-2028 strategy, which aims to expand operations, enhance global competitiveness, and open new horizons for one of Jordan's largest industrial companies. The government has been actively encouraging various economic sectors to adopt a more structured and sustainable approach to CSR, targeting essential development and service sectors, particularly in the governorates, and supporting projects with high operational potential. Petra
