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. (Syndigate.info).