Arab Potash Company signs $65 million trade deal with India
The Arab Potash Company (APC) has agreed to the supply India with 650,000 tons of potash by June 2004, stated a press release. The $65 million deal calls for 300,000 tons of potash to be shipped by the end of 2003.
Formed in 1956, APC is a public shareholding company in which several Arab governments, including Kuwait and Iraq, are stakeholders. APC was given concession from the Jordanian government, which retains a 52.8 percent interest in the company, to exploit, manufacture and market the resources of the Dead Sea for 100 years.
APC’s main export markets are India, China and Malaysia, purchasing 26.6, 22.6 and 11 percent of APC's overall foreign sales respectively. Other significant markets for Jordanian potash include Indonesia, Korea, Spain and Taiwan. — (menareport.com)
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