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Corporate
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Alliances & Joint Ventures
Iffco, Jordan Phosphates tie up
New Delhi, Dec. 4
Iffco has entered into a joint venture agreement with
Jordan Phosphates Mines Company (JPMC) to set up
phosphoric acid plant in Jordan at an investment of $570
million. As per the agreement Iffco will hold 52 per cent
equity, while the balance 48 per cent will be held by
JPMC, a release from the company said. "Iffco would buy
phosphoric acid produced from this project, which is
likely to create job opportunities for over 500 people.
JPMC would supply around 2 million rock phosphate to
the project annually," the release added. - Our Bureau
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