Date:05/12/2007 URL: http://www.thehindubusinessline.com/2007/12/05/stories/2007120551160200.htm

Back Iffco, Jordan Phosphates tie up

New Delhi, Dec. 4

Iffco has entered into a joint venture agreement with Jordan Phosphates Mines Company (JPMC) to set up phosphoric acid plant in Jordan at an investment of $570 million. As per the agreement Iffco will hold 52 per cent equity, while the balance 48 per cent will be held by JPMC, a release from the company said. "Iffco would buy phosphoric acid produced from this project, which is likely to create job opportunities for over 500 people. JPMC would supply around 2 million rock phosphate to the project annually," the release added. - Our Bureau