Official sources revealed that the Jordanian government has decided to capitalize a portion of the Jordan Phosphates Mines Company’s debts. The debts, estimated at 12 million Jordanian Dinars ($17 million) consist of mining fees paid by the company to the government. In exchange, the government’s stake holdings in the company will rise from 60 to 65 percent. The company will in turn raise its capital value from JD 64 million to JD 75 million. The company is expected to soon issue stocks on the Amman Securities Market in order to complete the new capital increase. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
