Last April, the board of directors of ICL approved the Phoenix project with an investment of $ 220 million for the expansion of the activities in the main production site of Iberpotash (IBP). IBP is a subsidiary company of Dead Sea Works which produces potash in Spain.
A cornerstone laying ceremony was held in January, with the presence of the President of Catalonia, Artur Mas; chairman of ICL, Nir Gilad; CEO of ICL, Akiva Mozes; CEO of ICL Fertilizers, Dan Chen and CEO of IBP, Jose Antonio Martinez.
The President of Catalonia congratulated Dead Sea Works on the decision of increasing its investments in the potash mine in Catalonia, especially in this current period of recession and unemployment in Spain and abroad. He said: "It is an expression of trust between the parties and I can assure you all the support and encouragement of the Government of Catalonia. The investments of ICL in the region will create jobs and will support the regional economy, and we promise to continue to support and to promote the expansion and investment programs of ICL in Catalonia".