“Arab Potash” achieved, by the end of last September, record numbers...

Nabataeans –Amman *** October 2020

The Chairman of the Board of Directors of the Arab Potash Company, Jamal Al-Sarayrah, said that “Arab Potash” achieved in the first nine months of this year record numbers in terms of production and sales, which are the highest since its establishment, despite the difficult economic challenges that the Corona pandemic left behind that cast a shadow over the whole world. The global fertilizer market was also adversely affected.

Al-Sarayreh added that the quantities of production achieved by “Arab Potash” amounted to 1.966 million tons, and the quantities of sales also recorded a record exceeding 2 million tons by the end of the third quarter of this year, explaining that these records will positively affect the company’s profits for the year 2020, as well. It will support the future investments of the company and enable it to expand both horizontally and vertically.

According to Al-Sarayreh, the Arab Potash Company resorted, in order to face the difficult economic challenges that accompanied the spread of the Corona virus, to redouble its efforts to reduce production costs and control expenses, as the company was able to reduce the cost of producing one ton of potash to record levels, as the cost of producing a ton of potash decreased by 6% compared to With the same period last year.

With regard to the results of the subsidiary and allied companies of the Arab Potash Company, Al-Sarayreh emphasized that these companies also achieved positive financial results during the third quarter of this year, which will be directly reflected in their investments and future expansion plans.

In detail, Al-Sarayreh explained that the sales of KEMAPCO (wholly owned by the Arab Potash Company, which produces potassium nitrate) recorded a record at the end of the third quarter of this year, reaching about 119 thousand tons, an increase of 32% from last year and 15% higher than the company’s sales in Previous years, indicating that the value of these sales amounted to 58.7 million dinars, a rise of 24% over the same period last year. The net profits of Kimapco Company until the end of the third quarter of this year increased by 28% compared to the same period last year.

Regarding the performance of allied companies, Al-Sarayreh indicated that the sales of Jordan Bromine Company achieved an increase at the end of last September compared to the second quarter of this year, and Jordan Bromine Company also achieved an improvement in profitability rates compared to last year despite the challenges that the company faced during this year as a result. Corona pandemic and its repercussions.

Al-Sarayrah pointed out that the investments of the Arab Potash Company are still enhancing the stock of hard currencies in the Kingdom, as the total amount provided by the company and its subsidiary and allied companies at the end of last September reached about $ 780 million.

The Arab Potash Company donated 31 million dinars this year, of which 20 million dinars were donated to the Himmat Watan Fund.