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It is understood that the agreement outlines a framework for a joint-venture phosphate fertilizer project in Syria between the two countries, including mining and phosphate fertilizer production. According to relevant data, Syria has a large amount of phosphate reserves, total reserves of 424 million tons, equivalent to P2O513.144 million tons. At the same time, the phosphate reserves are managed and planned by Syria’s national mining and fertilizer companies, and Gecopham is responsible for the exploitation. Gecopham currently has only 4 million tons of phosphate ore mining capacity per year. However, under the management and coordination of the Syrian oil and natural resources sector, Gecopham's phosphate ore mining capacity is expected to exceed 10 million tons.
It was also learned that as early as May 2009, the cooperation agreement required a coalition of three Indian state-owned companies to be responsible for the feasibility evaluation of the joint venture project, which involved the transportation of phosphate fertilizer from Syria to India. According to the Minister of Chemical Fertilizers of India, the India Evaluation Coalition and Gecopham Company are finalizing the feasibility report. The results of the assessment are expected to involve how Gecopham can expand production capacity, enhance exports, handle downstream products, and develop infrastructure. At the same time, Syria will hire workers on a large scale and introduce advanced foreign equipment to mine phosphate rock.
Affected by the global financial crisis, last year, Gecopham's capacity was severely frustrated, with only 2.5 million tons of phosphate ore mined. Compared with 2008, output decreased by 23% and sales revenue decreased by 63% year-on-year.
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Printing and Syria Co-building Phosphate Fertilizer Project
Recently, India and Syria have signed a long-term cooperation agreement to establish a joint-venture project for phosphate fertilizer in Syria. The construction of this project will provide a strong guarantee for the continued supply of phosphate fertilizer in India. This is the news that the Minister of Chemical Fertilizers of India recently released through the official news information bureau.