‘Jordan-Saudi Fund’ Starting Capital at JOD7m

تم نشره في Sun 9 April / Apr 2017. 12:00 AM - آخر تعديل في Sun 9 April / Apr 2017. 10:07 PM
  • Jordan and Saudi Arabia

AMMAN —AlGhad— Data issued by Companies Control Department show the starting capital of the Saudi-Jordanian Investment Fund was underwritten at JOD7.1 million, as a limited public liability company in partnership with the Public Investments Fund and a 10 per cent stake for both the Jordanian commercial and Islamic banks investment companies.

Notably, the Fund’s capital is expected to increase to over USD3 billion at some point.

The agreement was signed in the end of March, during Saudi King Salman bin Abdul Aziz’s latest visit to Jordan.

The spheres of investment for the joint Fund include railroads, a funfair and entertainment park, as well as the development of the oil grid and pipeline, between the Petroleum Refinery facilities and storages.