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Saudi Arabia’s Hamdi Plans $1.4 Billion Chemical Plant in Jordan

Oct. 23 (Bloomberg) -- Al Hamdi Group, a Saudi Arabian mining company, plans to build a $1.4 billion chemical plant in Jordan, the chairman said.

Construction will start in the second quarter, with the factory producing 310,000 tons of phosphoric acid annually once it is operational in less than two years, Abdul Karim al-Hamdi said in an interview in Amman today.

“Our group has plans to invest more in the mining sector in Jordan as this sector is very strategic and vital for the group,” al-Hamdi said after signing an agreement with the Jordan Investment Board. “We seek to open new markets in South Asia, India, Pakistan and some African countries. Demand for fertilizers is on the rise.”

The total capacity will be eventually doubled, he said, without specifying a timeframe.

To contact the reporter on this story: Mohammad Tayseer in dubai at mtayseer@bloomberg.net

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

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