On the sidelines of the World Economic Forum, the Manaseer Group and the Aqaba Development Corporation signed a land lease agreement with respect to establishing an industrial complex for specialized fertilizers, including 11 plants with an investment volume of 1 billion dollars.
The agreement which provides that the Manaseer Group can lease lands for the establishment of an industrial complex for specialized fertilizers was signed in the presence of Eng. Ziad Al Manaseer, Chairman of the Board of Directors of the Manaseer Group, and Mr. Naser Al Shraidah, Head of the Aqaba Special Economic Zone Authority. The agreement was signed by Mr. Muin Qadda, the Vice Chairman of the Board of Directors, representing the Manaseer Group, and Mr. Ghassan Ghanem on behalf of the Aqapa Development Corporation as the Executive Director.
The construction of the complex will be based on 900,000 square meters of global specifications, in addition to the use of the latest European equipment. The direct execution will be entrusted by one of the world’s largest contracting companies, while the Worley Parsons Co. will be responsible as the project’s technical advisor.
The Chairman of the Board of Directors of Manaseer Group, Eng. Ziad Al Manaseer stressed the importance of establishing the complex, stating that “the significance of the concerned project is based on the fact that it will be the first project in the world to produce all kinds of specialized fertilizers, which will make Jordan one of the most important fertilizer provider in the world, ranking the second place after China globally,” added that, “The new complex will provide 1,000 direct job opportunities and more than 3,000 indirect ones,” pointing that, “the environmental and public safety aspects would be taken into account according to the highest standards.”
The total cost of the project is “one billion dollars”, the execution will be launched directly during the current year, while the actual production will commence in the first quarter of 2020. The project will also be based on the Jordanian raw materials from phosphate, potash and bromine plants, in which 90% of the production will be exported abroad.