PM, Saudi prince discuss investment projects in Jordan

AMMAN — Prime Minister Abdullah Ensour on Sunday received  Saudi Prince Khaled Bin Alwaleed Bin Talal and discussed the launch of  new investment projects in Jordan, especially in renewable energy.

At a meeting with the prince, who is the owner of KBW Investments, attended by Energy Minister Ibrahim Saif, the premier was briefed on a proposed business plan to establish a factory for manufacturing lighting units using LED technology.

The Saudi KBW Investments Company is planning to build the factory in Jordan, in partnership with the public sector, in addition to other projects that the prince intends to invest in, the Jordan News Agency, Petra, reported.

The project will provide job opportunities for Jordanians, and its products will be exported to other countries around the world.

Ensour thanked Prince Khaled for choosing Jordan to host the project, which is part of a series of Saudi projects in Jordan, highlighting the country’s favourable investment climate.

At the meeting, the premier directed the concerned authorities to eliminate all obstacles that might face Saudi investments in Jordan.

Describing Jordan as an investment attraction, in light of the country’s security and stability, Prince Khaled expressed his appreciation of Jordan’s support for investors.

The Energy Ministry and KBW Investments signed an agreement to implement the LED- lighting unit manufacturing factory project at a cost of $9 million, according to Petra.

KBW invests in “a diverse array of businesses”, including the construction industry and technology start-ups, according to its website.