India- Jordan MoU for cooperation in fertiliser sector
During the visit of Union Minister of Chemicals & Fertilizers Dr. Mansukh Mandaviya to Jordan, MOUs were signed with Jordan to ensure the supply of Phosphatic and Potassic fertilizers to India. The objective is to secure fertilizers for the short and long term. This comes in the backdrop of the ongoing global fertilizer crisis.
How much fertilizers will be supplied to India?
For the current year, MoUs were signed with Jordan Phosphate Mining Company (JPMC) for the supply of 30 LMT Rock Phosphate, 2.50 LMT DAP, and 1 LMT phosphoric acid. A long-term MOU for 5 years was also signed with Jordan for annual supplies of 2.75 LMT of Muriate of potash (MoP) which will be increased every year up to 3.25 LMT.
What are the highlights of the Union Minister of Chemicals & Fertilizers’ visit to Jordan?
Union Minister of Chemicals & Fertilizers said that Jordan is India’s preferred country for the fertilizer sector and requested Jordan to announce India-specific terms for the supply of fertilizers. The Union Minister along with other officials visited the Jordan Phosphate Mining Company (JPMC) mines and Phosphoric Acid production facilities set up by Jordan India Fertiliser Company (JIFCO) and Indo-Jordan Company. They also visited Arab Potash headquarters; where officials made a presentation regarding the extraction of Muriate of potash (MoP) from the Dead Sea. India and Jordon agreed to constitute a Joint Committee to look into fertilizer supplies, new investments, etc.
What are other initiatives?
In 2015, a Joint venture project worth USD 860 million between the Jordan Phosphate Mines Company (JPMC) and the Indian Farmers Fertilizers Cooperative (IFFCO) for the manufacturing of Phosphoric Acid was set up in Jordan.
India is the largest buyer of phosphatic and potassic fertilizers from Jordan. Jordan allocates around 25% of its production of Muriate of potash (MoP) to India.
Month: Current Affairs - May, 2022
Category: International / World Current Affairs
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