Jordanian-Kuwaiti possible plant investment

Jordanian-Kuwaiti possible plant investment
Published: 22 April 2005

According to Jordan Times, the Jordanian-Kuwaiti Holding Company (JKHC) will set up a $200 million cement factory in Jordan, the firm’s CEO announced. The project is the first for JKHC in Jordan and, according to CEO Reem Badran, will be followed by other schemes in industrial, tourism, electricity, gas, water and infrastructure spheres. The decision to build the factory was based on a feasibility study that showed a fast growing demand for cement which is found in abundance in the southern and eastern parts of the Kingdom, Badran indicated. She pointed out that there is great potential for exporting the cement to neighboring countries especially Iraq, Saudi Arabia, Palestine and Syria. Established in 2004 with a $119.2 million capital JKHC is 85 per cent owned by Kuwaiti investors and the rest by Jordanians. Badran indicated that at least 500 Jordanians will be employed by the new factory which is expected to start production in 2008.   At present, Jordan produces cement at two locations, one in Fuheis near Amman and the other in Shidiyeh in southern Jordan which are majority controlled by Lafarge.