Jordan’s refinery company picks E&Y to advise on expansion project | Jordan’s refinery company picks E&Y to advise on expansion project -
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Jordan’s refinery company picks E&Y to advise on expansion project

: Thursday, June 26 - 2014 @ 00:09

The Jordan Petroleum Refinery Co (JPRC) has appointed Ernst and Young (EY) as its financial adviser to present the best alternatives and options for the fourth expansion project, Jordan Times has reported. EY will also present a financial model to finance the project of increasing JPRC’s production and improving its quality within the grace period given to JPRC from the government, which ends in May 2019. The expansion project, which aims to cover the kingdom’s oil needs by 2025, could cost around $2bn, said JPRC chief executive, Abdel Karim Alawin, noting it may decrease to $900m-$1bn should the project be limited to enhancing the products and improving quality.

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Thursday, June 26- 2014 @ 0:09 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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