A new $18M silica sand operation is coming on stream to serve a range of markets in Europe and the Middle East. The International Financial Corporation, the private sector arm of the World Bank Group, has signed an agreement with Middle East Regional Development Enterprises (MEREN), a private shareholding firm based in Amman, to help establish a silica sand plant in the south of Jordan with an investment of $5M. The $18M project, which started producing samples in Dec/04, is targetting exports mainly at Europe and the Gulf Region markets. MEREN, whose shareholders are businessmen from Jordan and the Gulf region, as well as the IFC, has contracted Outokumpu to supply process technology and equipment for the construction of the silica processing plant. The plant is expected to come into commercial operation during the first quarter of 2005.
