|
Project

Aqaba Terminal and Jetty
|
The
process chosen for the Phosphoric Acid Plant is the well established
Hemi hydrate Technology from M/S HYDRO AGRI, Norway, a reputed Process
licensor and a major producer of fertilizers. The project was implemented
by M/S KREBS SPEICHIM of France, supported by M/S SPIC - SMO of
India as its sub-contractor. The project complex consists of a 224,000
MT/Year Phosphoric Acid Plant, a 660,000 MT/Year dedicated Sulphuric
Acid Plant and associated Utilities & Offsite facilities at
Eshidiya and an acid storage facility (4 tanks of 5,000 M3 capacity
each) at Aqaba, Jordan.
The
US$ 169 million project was implemented well within time - 30 months
from effective date of contract - and budget. Phosphoric Acid commercial
production commenced in August 1997.
| Long
Term Loans
Equity and Subordinated Loan
Project Cost
Debt Equity
|
:
:
:
:
|
100 Million US$
69 Million US$
169 Million US$
60:40 |
Plant Performance
Ever since its entry into the commercial production
phase in August 1997, IJC has consistently turned out a scintillating
performance in terms of annual production, which is an unparalleled
record among Phosphoric Acid Plants around the world. In the very
first year (1997) during the 3rd
month of production, the plant achieved a capacity utilization of
100 % and has never looked back since then.
The
statistics given below speak for themselves.
| S.
No. |
Year |
CAPACITY
UTILIZATION |
| Sulphuric
Acid |
Phosphoric
Acid |
| 1. |
1998 |
104% |
106% |
| 2. |
1999 |
104% |
100%
+ |
3. |
2000 |
100% |
100%
+ |
4. |
2001 |
0 84% |
86% |
| 5. |
2002 |
113% |
112% |
| 6. |
2003 |
104% |
103% |
| 7. |
2004 |
103.3% |
97.6% |
| 8. |
2005 |
111% |
102% |
Marketing
The
high-quality merchant-grade Phosphoric Acid manufactured by IJC
is sold to the co promoter of the project M/S SPIC and also to other
buyers in India. Regular shipments are made from the Industrial
Jetty at the port of Aqaba.
Financial
Performance
The
financial results have correspondingly been impressive as well.
The highlights for the past years are as below:
| Year |
Turnover
In USD Million |
Cash
Profit
In USD Million |
Net
Profit
In USD Million |
| 1998 |
82.73 |
22.11 |
13.09 |
| 1999 |
88.20 |
22.31 |
11.14 |
2000 |
78.06 |
15.62 |
0 7.19 |
2001 |
53.21 |
0 9.77 |
0 1.28 |
| 2002 |
66.71 |
18.62 |
10.30 |
| 2003 |
66.99 |
12.36 |
4.09 |
| 2004 |
70.78 |
12.31 |
4.00 |
| 2005 |
82.41 |
19.43 |
10.95 |
Having
established a very high benchmark of excellence on the production
front, IJC has vigorously pursued high standards in other areas
also, such as safety and quality oriented systems and procedures.
ISO
9001 Certification
IJC
has won the prestigious ISO 9001 Certification for excellent quality
management systems in the production of Phosphoric Acid, Sulphuric
Acid and Storage and Shipping of Phosphoric Acid. The assessment
was carried out by M/S Llyods Register Quality Assurance (LRQA).
The
preparatory activities, which commenced on 4th September
2000, were completed in a record time of 40 days.
National
Safety Award
The
excellent safety record maintained by IJC has been applauded by
the British Safety Council, which has awarded IJC the National Safety
Award for the year 2000, 2001, 2002 and in 2004.
The
British Safety Council complimented IJC for its commitment to best
practice in the workplace, health and safety, and for its safety
record.
Social Security Corporation, Jordan awarded the company the prestigious Occupational Health and Safety Award.
AND
THE SUCCESS STORY CONTINUES
|
"Given
the performance of the company since its inception,
it can be confidently stated that the company's fortunes
are bound to excel in the years to come."
Babu
K. Verghese
Director
|
|
|