Arabian Business Power 500 2013
Thu 21 Mar 2013 10:28 AM
Nabeeh Salameh
192

Nabeeh Salameh

Industry: Industry

Company: Arab Potash

Designation: CEO

Country: Jordan

It was in the 1950s when Nabeeh Salameh was first inspired to set up a company to harvest minerals from the Dead Sea. With funding of around $480m, the project began in 1976.

Construction on a plant began in 1979 and was completed in 1982.

A second plant was built in 1994 and there are plans to keep expanding, especially as the concession from the Jordanian Government to exploit, manufacture, and market the mineral resources of the Dead Sea doesn’t run out until 2058.

Arab Potash is one of the world’s largest producers of a main ingredient for fertiliser. The company’s net profit fell for the first time since 2009 by about 34 percent to $280m on the back of a dip in global demand.

Potash Corp of Saskatchewan, the world’s largest producer, owns 27.9 percent of the company, with Saudi Arabia and Kuwait having minority stakes. Arab Potash’s affiliates include KEMAPCO and Nippon Jordan Fertilisers Co.