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French Version

Business Scene

Disi water bid in final stages!
* Studies are still underway to name the company that will implement the Disi water project. Nazih Barqawi, secretary-general of the Executive Privatization Commission, noted that a group of experts recently designated by the government, are currently examining all submitted tenders. The commission announced earlier that five consortiums have already passed the initial assessment, out of the 14 consortiums that bid for the project. Barqawi pointed out that the successful bidder will be announced once the assessment process finishes. The government will provide $200 million towards the cost of the project estimated at JD 600 million, while the Social Security Corporation, the World Bank and other governments are expected to cover the balance, which will take two years of construction. The project once finished is expected to supply the Greater Amman Municipality with 100 million cubic meters of drinking water per year. APC in the red despite high profits

APC in the red despite high profits
* Arab Potash Co (APC) endured a loss of JD 56 million during 2003 due to the malfunctionaing of its associate companies, the Magnesia Jordan and Al Safi Salt. This is despite the fact that the APC made JD 31 million in pretax profits last year. Magnesia Jordan recorded losses for about JD 70.3 million, while the Al Safi Salt endured JD 56 million. Both companies’ losses were augmented due to the collapse in one of the dams at the Dead Sea area. APC made last year JD 40.4 million in operational profits, an increase of 31.2 percent over the previous year.

Privatization leaves electricity rates stable
* The Electricity Regulatory Commission reassured Jordanians that electricity rates would remain the same even if the government privatized the sector. The Commission’s Director General Rashad Abu Rass pointed out that competition among the electricity generating companies would enhance quality of services and eventually reduce rates. The government is planning to sell 51 percent of the Central Electricity Generating Co to the private sector. Many bids were submitted to the Ministry of Energy and Natural Resources, and the winner would be announced later this summer. The government is expected to maintain its control over the National Electricity Co, which is responsible for distributing and operating power in the Kingdom.

New QIZ at Al Hallabat
* Jordan International Industries Co (JIIC) proclaimed its area in Al Hallabat, east of Amman, a Qualified Industrial Zone (QIZ). Sami Qammouh, the company’s chairman, said he received recognition from the US Department of Commerce last month. He noted that the area is eligible for international investments and would enhance exports to US markets. This latest QIZ covers an area of 440 dunums and is expected to attract investments in the fields of chemical industries, especially in agriculture and animal fodders.

RJ’s quarterly revenues take off
* Royal Jordanian (RJ), the Kingdom’s national carrier, made JD 1 million in net profits, and JD 75.1 million in operational revenues during the first quarter of 2004. The operational revenues increased this year by 42.4 percent over the same period of last year. Ghassan Ali, RJ’s director-general for Commercial and Services Dept, noted that the number of passengers on RJ’s flights rose by 48.1 percent in the first quarter of 2004 compared to last year. Ali predicted that growth would continue this year in view of the company’s rapid development in its strategies and services. He said the company would go ahead with its privatization plans in accordance with its restructuring policy.

The Star

Some Marks
To see in Jordan
Fairs & Exhibitions
Useful Addresses
Media of 1stjordan
Impact of 1stjordan
The 'First Jordan' Card
Press Book
Exotica - Flowers - Shopping on line
Engineering Consultants Lebanon
Nsouli Jewelry Lebanon
Hotel Beirut Lebanon
Rent Villas France for Holidays, Seasonal Rentals France
Sole Agent for Philips & Whirlpool in Lebanon
Arab Printing Press Lebanon
Hotel Beirut Lebanon
Arabic Music, CD Arabia
Hotels Syria
Groupe PMR