960417

Fertilizer factory

to be set up under

Pak-Jordan joint venture

ISLAMABAD: A fertilizer factory costing $320 million is being set up in Pakistan under joint venture with Jordan having capacity of producing 1000 tones of Urea per day besides meeting Pak DAP requirements.

Talking to the newsmen here on Wednesday at the ceremony of the agreements signed between Pakistan and Jordan at the end of the sixth session of Pak-Jordan joint Economic committee meeting, Secretary Economic affairs division, Javed Talat said that the project is Fauji Fertilizer Company and Jordan Phosphate Mines Company Industrial joint venture for production of DAP and Urea in Pakistan.

The agreement was signed by the leader of Jordanian delegation Dr Nabil Ammari, Secretary General of Ministry of planning of Jordan and Secretary, Economic Affairs Division Javed Talat.

Describing the joint venture as major development between the two Muslim countries enjoying deep brotherly and friendly relations, he said the phosphatic raw material would be provided by Jordan for this fertilizer project.

Responding to a question, he said since Pakistan had large technical base with competence and expertise in the fertilizer sector, it would provide technical assistance and experts to jordan for the balancing and modernization of its fertilizer plants .

These joint ventures, he said would take place in the private sector and the Government could provide all possible help in this regard. He said Tunisia was also looking for technical assistance from pakistan and there were also possibilities of joint ventures. These countries, he expressed were looking for diversification in trade.

Another agreement was signed by Chairman, Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Islamabad Nasim Ur Rehman and member of Board of Amman Chamber of Commerce and Industry Ghazi Kawar.

Earlier, the 6th session of Pak-Jordan Joint Economic Committee meeting was held on April 16-17 here to review the progress on implementation of the decisions of the fifth session of the committee and consider new proposals for promoting bilateral economic relations in various fields.

The Jordan delegation was headed by Dr. Nabil Ammari, Secretary General of Ministry of Planning of Jordan and Pakistan delegation was led by the Secretary, Economic Affairs Division, Javed Talat. The talks were held in an atmosphere of cordiality, frankness, and friendship.

Comprehensive deliberations were held to examine the possibilities for strengthening economic relations as a result of which concrete and meaningful decisions were taken to expand cooperation in the fields of trade, industrial/joint ventures focussing on development of commissioning new fertilizer plants in Jordan, supply of light/heavy engineering goods and participation of Pakistani investors in Jordanian dead sea industries.

Both sides agreed to make continued efforts for developing cooperation in the fields of agriculture, telecommunication, science and technology and civil aviation.

Executive Cultural Exchange Programme 1996-98 was signed between two countries. The implementation of Fauji fertilizer company and Jordan Phosphate Mines company industrial joint venture for production of DAP and UREA in Pakistan and phosphoric acid in Jordan was reviewed and the committee expressed hope for continued support by both governments for successful completion of the project.-APP