The Chairman of the Board of Directors of Arab Mining Company, Engineer Mohammad Ahmed Abdel aziz Al Shehhi, and the Chairman of the Board of Directors of Arab Potash Company, His Excellency Eng. Shehada Abu Hdaib, signed the Memorandum of Understanding, in the presence of the Director General of Arab Mining Company, Mr. Hassan Al-Takrouri, the CEO of Arab Potash Company, Dr. From both sides.
The signing of the memorandum of understanding came on the sidelines of the second edition of the International Mining Conference, which kicked off on Tuesday 10/1/2023 at the King Abdulaziz International Conference Center in Riyadh, under the slogan “Towards Establishing Reliable and Flexible Mineral Supply Chains in Africa, West and Central Asia.” Which is attended by more than 6,000 participants from 79 countries, ministers, and government representatives of several countries, in addition to the participation of investment leaders, heads of major mining companies, experts and technical specialists in this field.
According to the memorandum of understanding, the two companies are discussing the possibility of establishing an ammonia plant, and the possibility of establishing partnerships in the field of specialized fertilizer industry projects that will positively affect food security in the Arab world, in addition to finding investment opportunities between the two companies in mining industries projects.
Eng. Al-Shehhi stressed the importance of the memorandum of understanding between Arab Mining Company and Arab Potash Company to strengthen work bonds and cooperation relations by examining the possibility of establishing feasible projects that benefit the two companies and their shareholders.
Eng. Al-Shehhi drew attention to the high and long-term added value achieved by Arab Mining Company because of its investment in about 20% of Arab Potash Company's capital, indicating that the company is looking for more opportunities to maximize its investments in Jordan, which is characterized by its safe and attractive investment environment.
For his part, Engineer Abu Hdaib expressed his pride in signing the memorandum of understanding with Arab Mining Company, which owns about 20% of the capital of Arab Potash Company, indicating that this memorandum will contribute to strengthening cooperation relations between the two companies and finding common ground in key areas that achieve mutual benefit for them.
Eng. Abu Hdaib reviewed the strategic plans adopted by Arab Potash to increase its competitiveness in global markets and consolidate its advanced position as a major player in supporting the national economy and achieving its objectives and those of its shareholders and investors, pointing out that Arab Potash supplies various markets in various continents with approximately 2.6 million tons annually. Potash, which is of strategic importance due to its connection to international food security.
