New York Times Feed
Jordan's first shale oil-fueled power plant signed Tuesday a memorandum of understanding with state-owned Chinese banks to finance the project.
Mohammad Maaitah, project partner of Attarat Power Company (APCO) that owns the oil shale plant, said the company signed an agreement with the Bank of China and the Industrial and Commercial Bank of China to get about 1.7 billion"...Continue Reading >
The World Bank board of directors approved Friday a $250 million financial package to support Jordan’s process to reform the energy and water sectors. In a statement posted on its website, the bank described the sectors as “critical public services that are challenged by scarce resources and further burdened by a sharp rise in demand caused by the influx of Syrian refugees”. The policy programme financed by the Development Policy Loan (DPL) will include a gradual reform of electricity and water subsidies; diversification of fuel sources for environmentally friendly and sustainable...Continue Reading >