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Signature(s)

Amount
€ 81,000,000
Countries
Sector(s)
Jordan : € 81,000,000
Industry : € 81,000,000
Signature date(s)
6/05/2011 : € 81,000,000
Link to source

Summary sheet

Release date
9 December 2009
Status
Reference
Signed | 06/05/2011
20080417
Project name
Promoter - financial intermediary
Jordan India Fertilizer Company

Indian Farmers Fertilizer Cooperative Ltd (IFFCO)
Jordan Phosphate Mines Company Ltd (JPMC)

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
To be determined
Estimated at USD 640 million
Location
Sector(s)
Description
Objectives

The Jordan India Fertilizer Company project involves the development, construction and operation of a phosphoric acid complex with a capacity of 475,000 tonnes/year. The greater part of its production is expected to be sold to the Indian joint venture partner, IFFCO, for fertiliser production in India. The project site is located at the Eshidiya mine site, some 200 km north-east of Aqaba, the export port of Jordan.

The project will add value to a cheap domestic raw material, while creating direct permanent jobs. There will be further positive effects resulting from the related development and use of support infrastructure and through export revenues. The project will have a positive impact on economic activity in the host country, supporting the objectives of the Facility for Euro-Mediterranean Investment and Partnership (FEMIP).

Environmental aspects
Procurement

The project is classified as basic chemical industry and, if located in the EU, would fall under Annex I of the Directive 97/11 amended 2003/35. An ESIA has been determined.

The promoter is a private company operating on a free world market for fertilizers, and is thus not covered by EU Directives on Procurement.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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