The Manaseer Group recently signed a land lease agreement with the Aqaba Development Corporation (ADC) to build an integrated potash and phosphate complex at the Red Sea resort.
Muin Qadadeh, Manseer’s deputy chairman, said the facility, which is set to include 11 plants and will require an investment of $1 billion, would be the first of its kind anywhere in the world. “The concerned project will make Jordan one of the most important fertilizer producers in the world, ranking globally at the second place after China,” he said.
The execution of the project will start this year, while the actual production will commence in the first quarter of 2020 and will make use of Jordanian raw materials coming from the country’s phosphate, potash, and bromine plants. It is estimated that 90 percent of the total production output will be exported.
Once completed, the complex will provide 1,000 direct and more than 3,000 indirect job opportunities for Jordanians. In addition, Manaseer Group pledges that the environmental and public safety aspects would be taken into account according to the highest international standards.
Qadadeh said Aqaba’s strategic location was a real investment draw—especially with regards to mega-projects. “In general, the city’s administrative laws favor investments, in addition to being a duty-free zone, which, in turn, ensures the continuity and development of the planned projects,” he noted.
Apart from the Aqaba fertilizers facility, Manaseer has other projects in the pipeline. “We have a clear vision for our investment expansion in the near future,” said Qadadeh. “Overall, our efforts are directed towards the energy, mining, and chemicals sectors, aiming at strengthening the local economy through exploiting the existing domestic capacity and potential, with a clear objective of promoting the concerned sectors and enhancing their competitiveness on the global markets.”