Jordan Phosphate Mines Company’s (JPMC) Board Chairman Amer Majali said that he expects the Company’s sales of raw phosphate and fertilizers to reach 8 million tons in 2014, especially after JPMC recently signed an agreement with two Indian phosphate factories.

Majali added that the quantities exported by JPMC are part of its strategic plan to enter new markets and return to markets it left a decade ago, according to a press release issued by the Company.

On another note, JPMC CEO Shafiq Al Ashqar said that the Company signed, as a part of its 2015 marketing plan, an agreement to export additional quantities exceeding 850,000 tons of phosphate to India. Al Ashqar noted that the Indian imports represent 35% of fertilizers share in the international market.

JPMC’s sales of phosphate and fertilizers to the Indian market are expected to reach 3.5 million tons, Al Ashqar added.

The Company recently inked an agreement to export 250,000 tons of phosphate to Serbia, Al Ashqar said, adding that this shows its successful plans to enter the European market through Turkey and Serbia.

JPMC’s sales of DAP fertilizers exceeded 600,000 tons in 2014, Al Ashqar noted, adding that the Company is currently working on rehabilitating fertilizer factories in Aqaba.

It’s worth highlighting that JPMC’s operational profit surged by 217.3% or JOD 22.9 million to JOD 33.5 million during the first nine months of 2014, compared to JOD 10.5 million during same nine-month period last year.

Photo Credit: Arabianeye-Reuters