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FINANCIAL NEWS
JPMC wins Ethiopian tender
25 Aug 2013
(MENAFN) Chairman of the Jordan Phosphate Mines Company (JPMC), Amr Majali, said that the company was awarded a USD100 million tender to export Diammonium phosphate (DAP) to Ethiopia.
Majali said: “The company won the tender in spite of strong competition from many countries.” JPMC Chief Executive Officer, Emad Madadha, said the company is selling the phosphate at a lower price to lower to make up for the loss of the Ethopian tender last year.
Majali said that half of the company’s production is currently exported to India where demand for phosphate is decreasing. “We eye new markets such as Australia, Pakistan, Turkey, Malaysia and others because we do not want to be largely dependent on the Indian market only,” he said.
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