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FINANCIAL NEWS
Investments in Jordan to surpass USD2b in 2012
25 Jul 2012
(MENAFN) Jordan Investment Board’s (JIB) acting CEO, Awni Rushoud, stated that investment inflow to the country for the current year is forecasted to surpass the USD2 billion target, reported The Jordan Times.
Rushoud said that during the January-June period, volume of investments that advantage from incentives reached around USD1 billion, of which 25 percent represented the share of local investors.
He added that during the July-December period, the Kingdom plans to draw investments from 11 countries, including Kuwait, Qatar, Saudi Arabia, Italy, Spain, the US and China, in addition to others.
Amongst the investments forecasted to take place in the country is the establishment of a power plant in Al Manakher area, aorund 30 km east of Amman, with the deal’s value expected to reach USD540 million, according to Rushoud.
He said that Korea-based Lotte Engineering and Construction Company will be in charge of the project, which consists of establishing 38 diesel-fired generators, each with a capacity of 16 megawatts (MW).
It is worth noting that the volume of investments in 2012 is forecasted to surge by 60 percent from 2011.
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