 Jordanian Council of Ministers approved all agreements prepared by the national electricity company a mega oil shale energy project in the Kingdom.
The agreements were signed with an Estonian company which has agreed on all technical details of the 470-megawatt project at a tariff of 95 fils per kilowatt-hour for a period of 26.5 years.
Mohammad Hamed, Jordan’s Minister of Energy and Mineral Resources briefed the cabinet on the project to produce electricity through direct burning of oil shale.
The ministers were updated on the progress of work while the Mining and Energy Regulatory Commission gave the go-ahead for signing the deal with the Estonian firm and start the $2.4 billion project, which will be the largest oil shale venture in the region and the world.
