Deals worth $174m signed as forum concludes

AMMAN — Investment deals worth $174 million were signed on Thursday as the Jordan Economic Forum concluded on the shores of the Dead Sea. 

Prime Minister Hani Mulki and Lower House Speaker Atef Tarawneh witnessed the signing of the investment projects, the Jordan News Agency, Petra, reported.

Among the projects announced was a $70-million joint venture involving Jordan’s Philadelphia Solar and the UAE-based AlNowais Investments to build a 50MW solar plant, the first of its kind to be made-in-Jordan completely. 

The Jordan Petrol Refinery signed an agreement with Spanish TR worth $32 million to produce detailed blueprints for the refinery’s expansion project, whose total cost is estimated at $1.7 billion. 

Philadelphia Solar also signed a deal with Abdali Clemenceau Hospital at a cost of $15 million, under which the former will install solar energy-generation facilities at the hospital. 

A new production line for Kasih Food Production Company at a cost of $6 million, expanding the capacity up to 140 million items a year.

An agreement was also signed by Itqan Pharmaceutical Industries for $20 million. The firm manufactures products not found on the local market and aims to export to international markets, Petra said. 

The company is expected to employ more than 200 workers in its various departments.

Tarawneh said that the forum discussed strategic policy issues including fiscal, monetary and investment policies, mandating reasons for economic reforms, and ways to accelerate economic growth plan implementation drafted by the Economic Policy Council and the Jordan National Vision and Strategy 2025.

The forum was attended by a number of ministers, deputies, senates, ambassadors, businessmen, university presidents, academics, experts, economic analysts, representatives of several international institutions and companies, the United Nations, the World Bank, and the World Women’s Forum.