Jordan India Fertilizer Company to start phosacid plant in 2012

05 October 2009 13:56  [Source: ICIS news]

NEW DELHI (ICIS news)--Jordan India Fertilizer Company (JIFCO) will commission its phosphoric acid project at Eshidiya in Jordan in 2012, an official at one of its joint venture partners said on Monday.

The official at Indian Farmers Fertilser Cooperative Limited (IFFCO) said the start-up date had not yet been finalised but the objective would be to commission the $625m (€431m) project within 36 months.

The project has reached the construction stage with Jordanian King Abdullah II laying the foundation of the plant on Saturday.

JIFCO is a joint venture (JV) between IFFCO and Jordan Phosphates Mines Company (JPMC). The former has a 52% stake in the JV with the balance held by JPMC.

JIFCO plans to earn $300m in foreign exchange for Jordan by exporting phosphoric acid to India through IFFCO. The latter would utilise this as an intermediate for the production of diammonium phosphate (DAP) at its fertiliser plants in India.

JPMC is to supply rock phosphate and sulphur to the project, which would have capacity to produce 1.5m tonnes/year of sulphuric acid. This, in turn, would be used to manufacture 475,000 tonnes/year of phosphoric acid.

The World Bank’s private sector funding arm, International Finance Corporation (IFC) is acting as lead financial advisor-cum-arranger for the project.

($1 = €0.69)

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By: Naresh Minocha
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