Jordan Finalizes Privatization Plans for 10 Firms

Published May 22nd, 2001 - 02:00 GMT

Jordan is finalizing plans to sell off ten tourism, hotel and banking companies, the Associated Press reported. 

The director general of the Jordanian Investment Corporation, Mohammed Bataineh, was quoted by the agency as saying that “the aim is to raise money for national water and mineral projects.” 

He added that the government held stakes of five to 90 percent in 32 companies, but was not interested in selling telecoms, electricity, its airline or the mineral industry. 

According to the Jordan Times, the candidates for sale include the Jordan Express Tourist Transport Company (JETT), the United Glass Industries Company, the Jordan National Shipping Lines Company, and the Agriculture Marketing and Processing Company.  

Finance Ministry Secretary General Mohammad Abu Hammour said the government's privatization march was on schedule, guided by the International Monetary Fund. He added that the sale of the Royal Jordanian catering center was expected to be finalized soon, while RJ's remaining departments would be privatized by the end of this year – Albawaba.com

© 2001 Al Bawaba (www.albawaba.com)


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