MUSCAT: In a significant move towards bolstering economic cooperation, Al Tasnim Enterprises, a 100% Omani-owned company, has signed two Memorandums of Understanding (MoUs) with Jordan's Ministry of Energy and Mineral Resources. The MoUs pertain to the exploration of phosphate ores in the Risha region and rock potash ores in the Lasan area adjacent to the Dead Sea. The agreements, reported by Ammon, a Jordan-based news portal, were formally signed by Jordan's Minister of Energy and Mineral Resources, Saleh Kharabsheh, and Al Tasnim Enterprises CEO, Mohit Khimji.
Under the terms of the first MoU, Al Tasnim Enterprises has been granted a 2.5-year licence to conduct operations in an expansive area of 300 square kilometres in the Risha region. The company will be responsible for carrying out exploratory studies, identifying and analysing the ore deposits, and assessing the economic feasibility of potential phosphate mining activities. This strategic initiative aims to establish transformational industries in Jordan, particularly in the areas of food and pharmaceuticals, leveraging the country's phosphate ore resources.
The exploration and assessment of rock potash ores in the Lasan area will be the focus of the second MoU. Al Tasnim Enterprises has been entrusted with a 3.5-year mandate to conduct comprehensive exploration operations across a land area spanning 34 square kilometres. The company's responsibilities include evaluating the reserves of rock potash ores and conducting extensive exploratory studies. This partnership endeavors to unlock the potential of Jordan's rock potash resources and contribute to the development of related industries.
The signing of these MoUs signifies a landmark collaboration between Oman and Jordan, strengthening bilateral ties and fostering economic growth. The agreements highlight the mutual commitment to leverage the natural resources of the region for the benefit of both nations. The Risha region's phosphate ore reserves and the Lasan area's rock potash resources possess significant potential for industrial development and economic diversification.
Last month, an Omani-Jordanian joint committee meeting was held in Jordan which aims to expand the scope of cooperation between the two countries. During the session, it was acknowledged that there is significant value in broadening the scope of cooperation in economic and investment domains. Emphasising the importance of supporting the private sector, both parties recognised the need to enhance trade between the two countries. Furthermore, they highlighted the significance of collaboration in various key sectors, including industry, agriculture, environment, transportation, communication, information technology, the digital economy, healthcare, education, tourism, culture, and media.
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