A disagreement between Jordan Phosphate Mines Company and the Indian Oswal Chemicals and Fertilizer Company (Oswal) has brought to a halt Phosphate shipments to the latter since last September, Jordan Times reported.
Citing a well-informed source, who prefers anonymity, only 276,000 tons were exported to Oswal during the June-August period of 2000 and exports have since stopped due to the conflict, said the paper.
According to the report, under the five-year agreement effective January 2000, the first shipment of half a million tons was to be supplied by the end of last year.
The source did not elaborate on the details of the dispute, but hinted that the issues of contention revolve around price levels and quality standards
JPMC is the world's sixth-largest phosphate producer. The government owns a 60 percent stake in the firm while a 16 percent minority holding is held by Kuwait. The Jeddah-based Islamic Development Bank and other pan Arab bodies such as Arab Petroleum Investment Corporation also hold small stakes in the company -- Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
