DEAD SEA, Jordan, 22 May 2007 — The Jordanian government on Sunday signed 24 projects totaling $2.5 billion with firms from 11 countries as well as local businesses, an official announcement said.
The deals were signed on the sidelines of the World Economic Forum (WEF) conference that was concluded yesterday evening the Dead Sea resort. The contracts were granted to firms from the United Arab Emirates, Saudi Arabia, Kuwait, Turkey, the United States, Ireland, France, Britain, Japan, China and India.
“Today’s agreements reiterate our commitment to strengthening our economy through private sector-led investment and growth, as well as our commitment to cross-border partnerships,” said King Abdallah II who attended the signing ceremony.
A consortium, led by Aeroports De Paris (ADP) won a $500 million contract for the expansion of Queen Alia International Airport (QAIA). In addition to the DPA as operator, the coalition includes Joannou& Paraskevaides (Britain-Cyprus) and J&P-Avax (Greece) as contractors and Abu Dhabi Investment Co., Noor Investment Co. of Kuwait and the locally-based Edgo Ventures as financial investors. A $300 million deal for building the Amman-Zarqa Light Rail System was granted to a consortium led by CETC International of China.
Other agreements covered projects in the fields of energy, transportation, finance, and light industry, an official statement issued after the WEF talks said.
Projects in the energy sector include the setting up of the Jordan Dubai Energy Consortium, which will acquire a 51 percent share in the Central Electricity Generating Company (CEGCO) in Jordan.
Jordan Dubai Capital and Jordan’s Social Security Investment Unit also announced the establishment of Inwan Mortgage Finance, a public shareholding company with a paid-up capital of $75 million.
