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    Energy Ministry launches 3rd phase of support programme to industrial sector

    December 5, 2022
    oil and gas

    AMMAN — The Ministry of Energy and Mineral Resources' Jordan Renewable Energy and Energy Efficiency Fund (JREEEF) and the Jordan Chamber of Industry (JCI) on Sunday launched the third phase of the ministry's support programme for the industrial sector, which aims to reduce the cost of production and increase the competitiveness of the sector at a total cost of JD4 million.

    Minister of Energy and Mineral Resources and JREEEF Chairman Saleh Kharabsheh signed agreements with 10 factories that have qualified for this phase out of 22 factories that have applied to benefit from the programme, according to a ministry statement.

    Kharabsheh noted that the programme is part of the strategic goals of the energy sector which include reducing energy consumption and improving energy efficiency.

    The minister stressed the importance of these agreements in providing long-term and renewable specialised industrial financing, describing the industrial sector as the “largest” operator and supporter of the national economy.

    He said that the ministry has developed this programme through JREEEF to serve the industrial sector, noting that the programme is implemented in cooperation with the ministry's partners: The Central Bank of Jordan, commercial banks, Jordan Loan Guarantee Corporation, and the JCI.

    Kharabsheh also highlighted the importance of achieving the goals of the sector, especially considering that the industrial sector consumes approximately 17 per cent of the total consumption of all sectors.

    JCI President Fathi Jaghbir said that the support programme is “vital and important” in light of the sector’s suffering from high monthly power bills that affect its competitiveness compared with neighbouring markets.

    Commenting on the programme, JREEEF CEO Rasmi Hamzeh said that the fund’s mission is to supervise and follow up on projects with owners of factories as well as offer technical opinions and evaluate work, which encourages factories to increase turnout on implementing projects that rationalise energy consumption.

    jordantimes

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