Nov. 29, 2019
IFFCO and JPMC formed a Limited Liability Joint Venture Company, namely Jordan India Fertiliser Company (JIFCO) to set up a Phosphoric Acid Plant with annual capacity of 4,75,000 tonnes P2
and a Sulphuric Acid plant with annual capacity of 14,25,000 tonnes at Eshidiya in Jordan. IFFCO (27%) and KIT (IFFCO’s Wholly Owned Subsidiary) (25%) together hold 52% equity, while JPMC holds 48% equity in JIFCO.
JIFCO declared commencement of regular operations on December 1, 2014.
Pursuant to the long term Rock Supply Agreement, JPMC is supplying the Rock Phosphate for the Project and KIT is purchasing the majority of Phosphoric Acid (minimum 70%) produced under a long term Phosphoric Acid Off-Take Agreement.
International Finance Corporation (IFC) and European Investment Bank (EIB) are Senior Lenders for the project.
For the year 2018, JIFCO produced 4,76,200 tonnes of Phosphoric Acid in terms of P2O5 , achieving a capacity utilization of 100.3%.