IFC Finances JIFCO Phosphoric Acid Plant in Jordan

The International Finance Corporation (IFC) has granted a $215m loan to the Jordan-India Fertilizer Company (JIFCO) to construct a phosphoric acid plant in the city of Eshidiya, Jordan.

The financing includes a $90m IFC B Loan raised from Ahli United Bank, Europe Arab Bank, Bank Muscat SOAG, Cordiant Capital and State Bank of India Bahrain.

The plant is also being financed through $120m from the European Investment Bank.

The new plant will feature modern production technology to recycle water and allow the local power grid to use excess electricity produced at the plant.