A Jordanian and Chinese companies agreed to a a billion-dollar project to manufacture fertilizers in the Jordanian Red Sea resort of Aqaba, a local official said on Tuesday.
The Jordan Phosphate Mines Company signed a memorandum of understanding with China's Chongqing Minmetal & Machinery Import & Export Company Ltd. to build an industrial complex in Aqaba, according to Khalil Farrayeh, spokesman for state-run Aqaba Development Corporation.
The 1.4 billion-U.S. dollar project will produce fertilizers and will be located in Aqaba, Farrayeh said in a press statement.
He added that the first phase of the project will cost 350 million U.S. dollars.
The facility will use raw material from the Jordan Phosphate Mines Company and the Arab Potash Company, he said.
