IFFCO signs financing agreement with IFC, EIB for Jordan project

Indian Farmers Fertiliser Cooperative Ltd has signed a financing agreement with the International Finance Corporation (IFC) and European Investment Bank (EIB) to raise $336 million (about Rs 1,500 crore) debt for its joint venture phosphoric acid project in Jordan.

IFFCO and Jordan Phosphates Mines Company (JPMC) had formed a joint venture Jordan India Fertiliser Company (JIFCO) in 2008 to set up a phosphoric acid plant at an investment of $625 million