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'Refinery expansion project attracts China, IFC-backed company'

By Mohammad Ghazal - Jan 31,2016 - Last updated at Jan 31,2016

AMMAN — China and an entity supported by the International Finance Corporation (IFC) are among those showing interest in a project to expand the capacity of the Jordan Petroleum Refinery Company (JPRC), Energy Minister Ibrahim Saif said Sunday. 

The minister told The Jordan Times that the refinery is currently assessing offers by several companies and financing entities to look into the best means to fund the JD1.6 billion expansion plan, as well as reviewing technical proposals for the project's design.

The expansion project seeks to increase the refinery's capacity to 120,000 barrels per day, Saif said, stressing the importance of the project in meeting rising demand for various fuel types.

Currently, the refinery processes about 70,000 barrels of crude oil per day. The grace period given to the JPRC by the government for the expansion project ends in May 2019.  

The minister added that imports of diesel by companies given licences for this purpose will start in the middle of this month.

 

The government recently signed agreements with Jordan's Al Manaseer Group and France's Total to allow them to import fuel derivatives, starting with diesel, ending the JPRC's monopoly on imports.

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"The government recently signed agreements with Jordan's Al Manaseer Group and France's Total to allow them to import fuel derivatives, starting with diesel, ending the JPRC's monopoly on imports."

Well it's still a monopoly as only Total and Al Manaseer group are allowed to import!

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