Middle East Economic Survey

VOL. XLVIII

No 51

19-December-2005

JORDAN

Citigroup Secures Jordan Refinery Expansion Financial Advisory

Citigroup has been appointed financial advisor for the expansion of Jordan Petroleum Refinery Companys (JPRC) Zarqa refinery. Initially, Citigroup will work on finding a strategic partner for the project, which is expected to cost $750-800mn. JPRC CEO Ahmad al-Rifa'i said that the plan is to increase capacity to 17,500 tons/day (131,250 b/d) in five years. Currently...