Arab Potash Signs $145 Million Deal With China’s Sinofert

Arab Potash Co. (APOT) signed a $145 million contract with Sinofert Holdings Ltd. (297), China’s biggest fertilizer importer, to supply the Chinese market with 300,000 tons of potash this year.

The agreement is part of a long-term memorandum of understanding under which Jordan will supply China with regular shipments of potash until 2013, Amman-based Arab Potash said in a statement on its website.

Among APC’s shareholders are the Potash Corporation of Saskatchewan, Canada, which has a 27.96 percent stake, and the government of Jordan, which holds 26.88 percent of APC.

China is among countries that are becoming more reliant on fertilizers to boost crop yields as the availability of arable land shrinks and populations grow.

To contact the reporters on this story: Nayla Razzouk in Amman, Jordan nrazzouk2@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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