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Investment ANNOUNCEMENTS BY SECTOR


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Investment ANNOUNCEMENTS BY SECTOR


 
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Energy


Energy


  • Repowering project of the 485 MW Hussein Thermal Power station at a value of $500 million by ACWA Power. 
  • Signing of a Letter of Intent for the construction of a 1-gigawatt cluster of solar and wind projects under a 20-year power purchase agreement (PPA) between Chinese Firm Hanergy and Ministry of Energy and Mineral Resources (MEMR) at a value of $1.5 billion. Hanergy will grant MEMR $310 million to upgrade the local grid capacity. 
  • Signing of a 20 year PPA between Green Watts and NEPCO for an 82MW wind farm in Al Rajef at a value of $174 million.
  • Early commissioning of the 117 megawatt Tafila Wind Farm, at a value of $285 million. Project to be operational in September 2015
  • Reaching financial closure for 12 solar projects with a capacity of 200 megawatt from MEMR’s First Round of Direct Proposal Submission in Mafraq, Ma’an and Aqaba governorates at a value of $400 million. Projects to be operational by 2016. 
  • Announcing purchase prices for solar projects from MEMR’s Second Round of Direct Proposal Submission to be installed in northern, eastern and central Jordan with a total capacity of 200 megawatts and a value of $400 million.
  • Signing of Fujaij 89-megawatt wind project power purchase agreement at a value of $160 million
  • Ministry of Energy, announcing shortlisted firms for the 65-75 megawatt solar project at Al Qwairah funded by Abu Dhabi Fund for Development at a value of $150 million.
  • Signing of a letter of intent for a liquefied natural gas sale and purchase agreement between British Gas Corporation and MEMR at a value that could reach up to $6 billion worth of gas purchase over 20 years
  • Signing a MoU for the exploration and development of oil shale between Canadian firm Questerre Energy Corporation and MEMR at a value of $35.5 million.
  •  Signing of an agreement for the exploration of oil and gas at Hamzah Oil Field between Canadian firm Transeuro and MEMR at a value of $21 million.
  • Signing of an oil and gas exploration agreement with Canadian firm Ammonite Energy and MEMR at a value of $7 million.
  • Signing of a copper ore exploration MoU between Mexican firm Altos Hornos De Mexico and MEMR at a value of $3.3 million.  
  • Signing of a MoU regarding retrofitting of 25000 street lights with LED as Phase I of replacing Amman streets with efficient lights between GAM and EBRD at $ 20 million out of the total $120 million needed for project.  
  • Starting the execution of a 10-megawatt solar plant by Philadelphia in Mafraq Governorate at a value of $22.5 million. Project to be operational by July 2015.
  • Announcing purchase prices for solar projects from MEMR’s Second Round of Direct Proposal Submission to be installed in northern, eastern and central Jordan with a total capacity of 200 megawatts and a value of $400 million.
  • Starting implementation of the 66-megawatt wind project at Al Hussein Bin Talal University by Spanish firm Elecnor and funded by the Kuwaiti Fund for Arab Economic Development at a value of $120 million. Initial commissioning will take place by end-2015.
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Transportation


Transportation


 

  • As part of the transition the majority of its vehicles and then government vehicles to zero-emission and environmentally friendly electric vehicles (EV). The Royal Hashemite Court has signed this morning the following MOUs:

    -          Signing of a MoU between the Royal Hashemite Court and Tesla Motors for the purchase of electric vehicles.

    -          Signing of a MoU between the Royal Hashemite Court and Renault for the purchase of electric vehicles. 

    -          Signing of a MoU between the Royal Hashemite Court and BMW for the purchase of electric vehicles.

    Further to this and as part of its CSR; Manaseer Group to offer supercharge services for e-vehicles at multiple gas stations throughout Jordan. In addition, other market players such as Total, Jo Petrol and Gulf will also provide this service.

  • Signing a letter of intent between the International Road Transport Union, the Arab Union of Land Transport for the National System and MoT for Training Professional Transport Drivers.
  • Signing of a technical cooperation MoU between the European Bank for Reconstruction and Development and the Ministry of Transport (MoT) to support and promote Jordan’s transport projects.
  • Signing of an agreement between Noor Jordan for Transport - Taxi Mumayyaz and Greater Amman Municipality for replacing three hundred cars with hybrid vehicles and up to one hundred cars with electric vehicles at a value of $13 million.  
  • Announcement of the Technical Assistance Programme on the Revision of the Economic and Financial Analysis Studies for the Jordan Railway Project by the Union for the Mediterranean and MOT.

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ICT


ICT


  •  500 Start Ups to launch its initiative, in cooperation with the Ministry of Information and Communications Technology, for three micro-funds focused on Jordan and the MENA region with an emphasis on investing in early stage technology startups. The three funds are targeted to be between $3-5 million in size, and aim to invest in 30-50 tech companies as they are getting started. 

  • Signing of the National Broadband Network Agreement for southern governorates between Masar United Contracting Company and MoICT at a value of $44.5 million.

  • Announce the signing of the National Broadband Network Agreement for central governorates between the Saudi Fund for Development and the Ministry of Information and Communications Technology (MoICT) at a total value of $50 million (Saudi Fund for Development contribution $50 million). Expected to be completed by end-2018. 

  • Signing of an agreement between Cisco and Royal Medical Services to connect military hospitals via telepresence facilities to King Hussein Medical City in Amman.

  • Signing a MoU for mobile applications donated by Zain and PALMA to MoICT to help deliver government services through market driven strategies. 

  • Signing of an MoU between KINZ Company and MoICT to establish partnership for providing the general public with data pertaining to public sector entities.

  • Singing of an MoU between Microsoft Research India, Microsoft Corp., Jordan Universities Network (Junet) and to launch the Jordan Open Courseware Platform for public universities, starting with the University of Jordan, Jordan University for Science and Technology and Yarmouk University

  • IFC Investment in Wamda regional IT fund - IFC is investing $10 million in a venture capital fund that supports promising technology companies, part of an effort to drive job creation across the Middle East and North Africa (MENA). 

  • King Hussein Business Park and Jordan’s Higher Council of Science and Technology agreed to establish a world-class Nano Technology Lab in the business park which will be a platform for research and development that will boost innovation and creative thinking. The project is funded by the Scientific Research Fund and the Gulf Grant.

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Infrastructure


Infrastructure


  • Signing of a MoU between KBW Investments and the Jordan Investment Commission to explore investment opportunities valued at $400 million in airports, transportation and infrastructure in Jordan.
  • King Hussein Business Park awarded Zain Jordan the tender to rehabilitate, manage and operate the Tier III Disaster Recovery Center in the Park which will provide an optimum solution for Data Centers, Disaster Recovery and Cloud Services Sites.
  • Announcing signing of an agreement between Saudi Fund for Development and the Ministry of Planning and International Cooperation (MOPIC) regarding the establishment of Industrial Estates in Madaba, Salt, Jarash and Tafileh for $30 million(Signed May 19, 2015) 
  • Announcing Arab Potash Company investment plans for the upcoming 5 years at a value of $880 million, including the following projects:
    • Two production expansion projects totaling 245,000 tons per year of potash at a value of over $280 million.
    •  A project to expand production of higher value granular potash by 250,000 tons per year at a value of $16 million.
    •  An energy project to produce electricity from gas and/or fuel oil in conjunction with 33 MW of solar power at a value of $268 million.
    • A natural gas pipeline and equipment upgrade to utilize natural gas at a value of $48 million.
    • A new intake pump station at the Dead Sea at a value of $268 million.

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Urban Development


Urban Development


  • Construction of the Abdali Boulevard at a value of $500 million. Project commenced end-2014.
  • Construction on Abdali Mall, an avant-garde mall, at a total value of $300 million. Project to be completed in March 2016. 
  • Construction of Rotana five-star hotel at Abdali at a value of $200 million. Expected to be completed by November 2015. 
  • Construction of Damac Heights apartment complex at Abdali at a value of $87 million. Expected to be completed by December 2015. 
  • Construction of Abdali Gateway, an office tower and podium containing 16,500 m2 of office space and 4,000 m2 of retail space, and a residential building with 67 high-end apartments at a value of $200 million. Expected to be completed by Dec. 2015.  
  • Construction of five-star W Hotel at a value of $190 million. Expected to be completed by the second half of 2016.
  • Construction of Clemenceau Medical Centre Abdali with a capacity of 200 beds at a value of $220 million. Expected to be completed in June 2017.
  • Construction of five-star Le Grey Hotel at a value of $150 million. Expected to be completed in December 2017.

 

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Others


Others


 

  • King Abdullah Economic City Endowment for the Growth of Jordanian Small and Medium Enterprises will contribute $2 million over two years (expandable to $10m over 10 years if project was successful) to support the development of Jordanian SMEs in Saudi Arabian market.
  • King Hussein Business Park awarded Zain Jordan the tender to rehabilitate, manage and operate the Tier III Disaster Recovery Center in the Park which will provide an optimum solution for Data Centers, Disaster Recovery and Cloud Services Sites.
  • IFC investment in the Luminus Group (Al-Quds College) in Jordan.  IFC invested  $10 million equity Investment in the Luminus Group, a Jordan-based private quality vocational and technical training institution with regional operations.