China Central Television (CCTV) highlighted Arab Potash Company with investment from SDIC Mining Investment Co., Ltd. in the top news of its prime time news program on November 20, 2021. The top news was themed “the Belt and Road Initiative makes high quality progress and China solution benefits the world”.
Arab Potash Company (APC) is the eighth largest potash producer in the world by volume of production and is granted with franchised rights to extract, manufacture and market minerals from the Dead Sea. In October 2018, SDIC Mining Investment Co., Ltd. purchased 28% of APC's total shares and became the largest shareholder of the company. Since then, SDIC Mining Investment has been firmly implementing the “Belt and Road Initiative”, has offered Chinese solution for business operation and development of APC, and has recommended leading domestic enterprises to participate in the key projects of APC such as dam maintenance and thermal power plant construction. In recent years, APC has witnessed steady growth in business and in the first three quarters of 2021, APC recorded a net profit of JD191 million, a sharp rise of 61% over the same period of last year.
On November 22, SDIC Mining Investment held a special meeting to study the important speech by President Xi Jinping at the third symposium on the development of the Belt and Road Initiative. SDIC Mining Investment concludes that “going global” is an important way for further promoting high quality development, “grasping opportunity” is an important policy to invest in overseas projects with good potentials, and “good governance” is the important philosophy to maintain and increase the value of State-owned assets and constantly promote high quality development of the company.