Amman, The Arab Potash Company (APC) and the Arab Mining Company (AMC) on Wednesday signed a memorandum of understanding (MoU) in Riyadh to launch joint future partnerships and investments between the two companies.
The memo was signed by AMC Chairman, Shehada Abu Hudaib, and AMC Head , Mohammad Shehhi.
The MoU came on the sidelines of the second edition of the International Mining Conference, which was launched today at the King Abdulaziz International Conference Center in Riyadh under the theme : ” “Towards the Establishment of Reliable and Flexible Mineral Supply Chains in Africa and West and Central Asia.”
The event is attended by more than 6, 000 participants from 79 countries, investment leaders, heads of major mining companies, experts and technical specialists in this field.
According to the MoU, the two companies will discuss the possibility of establishing an ammonia plant and launching partnerships in the field of specialized fertilizer industry projects that would “positively” affect food security in the Arab world, find investment opportunities between the two companies in mining industries projects.
Speaking at the signing ceremony, Abu Hudaib expressed pride in signing the MoU with AMC, which owns approximately 20% of the APC’s capital, indicating that this memo will contribute to strengthening cooperation relations between the two companies and finding common ground in key areas that achieve mutual benefit.
He reviewed the APC’s strategic plans 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 its shareholders and investors.
He noted APC supplies various markets on different continents with approximately 2.6 million tonnes annually of potash, which enjoys “strategic” importance due to its connection to international food security.
Source: Jordan News Agency