The Jordanian government plans to build a new oil refinery in the Aqaba Special Economic Zone (ASEZ). The $150 million facility will direct its output exclusively towards foreign markets, reported Al-Rai. Foreign investors are expected to be involved the refinery’s financing.
Jordan currently has only one oil refinery. The Jordan Petroleum Refinery (JPR) is located 30 kilometers north east of Amman. With the exception of some fuel oil, diesel and liquid petroleum gas (LPG) imports, the refinery supplies all the nation’s total petroleum fuel requirements.
ASEZ is a development initiative that seeks to maximize private sector participation in a duty free, tax-advantaged and flexible regulatory operations environment. Established in 2000, the zone is located at the Gulf of Aqaba leading to the Red Sea. It covers approximately 375 square kilometers and extends to the land borders of Israel and Saudi Arabia and the territorial waters of Egypt. — (menareport.com)
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