Saudi Arabian mining company to build $1.4 billion chemical plant in Jordan

AMMAN, Jordan — Saudi Arabian mining company Al Hamdi Group has announced plans to build a $1.4 billion chemical plant in Jordan, Bloomberg reported.

The factory will produce 310,000 tons of phosphoric acid annually once it is operational in less than two years.

“Our group has plans to invest more in the mining sector in Jordan as this sector is very strategic and vital for the group,” said Abdul Karim al-Hamdi, chairman of Al Hamdi Group. “We seek to open new markets in South Asia, India, Pakistan and some African countries. Demand for fertilizers is on the rise.”