Amman: The establishment of the National Arab Company for Manufacturing Industries has been announced on Thursday at the Jordanian Businessmen Association headquarters, as part of efforts to implement the priorities outlined in the Economic Modernization Vision for the energy and mining sectors.
In the initial phase, the company will conduct feasibility studies for various projects, including the production of lithium iron phosphate, manganese sulfate, a lithium ore refining station using the TOLL method, and basalt for reinforcing steel.
The company’s projects align with the global trend toward carbon neutrality by 2050, emphasizing the gradual shift from fossil fuels to renewable energy and storage, applying sustainable development best practices. In the second phase, the company aims to raise capital for business development from additional raw materials.
Minister of Investment Kholoud Saqqaf commended investors’ confidence in the Jordanian investment environment and their initiative to establish the ne
w company, underscoring that the mining sector, a key focus of the Economic Modernization Vision, holds significant economic potential and competitive advantages.
Saqqaf anticipated further development in the mining sector over the next decade, driven by the growing demand for products related to advanced industrial and agricultural sectors utilizing modern technology.
Highlighting Jordan’s efforts to expand and diversify the mining sector, Saqqaf emphasized the goal of increasing its contribution to the Gross Domestic Product, creating employment opportunities, and attracting new investments based on the country’s abundant mineral resources.
Chairman of the Founder Committee and President of the Jordanian Businessmen Association, Hamdi Tabbaa, stated that the company’s establishment aligns with the Economic Modernization Vision for the mining and mineral resources sector.
Mining sector expert Ayman Ayyash noted that the company aims to be a leader in manufacturing basic materials for energy storage batte
ries, aligning with global trends and outcomes of climate conferences such as COP28 hosted by the United Arab Emirates.
Ayyash highlighted the company’s contribution to strengthening the national economy and creating job opportunities in collaboration with regional and international partners, particularly the United States, under the Inflation Reduction Act (IRA) and the Free Trade Agreement.
Source: Jordan News Agency