Alrai - An official source at the Ministry of Energy and Mineral Resources confirmed that a Kuwaiti investor is in the process of establishing an oil refinery and a petrochemical complex in Ma'an, with an estimated investment of 8 billion dollars.

The source pointed out in a statement to the opinion that the government opened the field at the beginning of the year 2019 to establish new refineries in the Kingdom within clear principles that take into account the government guarantees related to the construction of new oil refineries.

The source did not specify the time of the refinery's launch, but said that its construction would begin soon.

The source estimated that the volume of production and capacity for the refining process in the new refinery would reach about 150,000 barrels per day.

He pointed out that the economic feasibility study presented by the investor indicates that there is a timetable for implementing the licensing and work stages of the project, indicating that the initial conditional approval came based on the economic feasibility study of the project and includes adherence to the general policy approved by the government not to secure oil and sell derivatives and work on commercial grounds in addition To adhere to the schedule submitted for the implementation process.

He said that the investor is currently required to complete the study and implement what was stated in the feasibility study, and the source noted that the next stage requires the completion of licensing procedures and adherence to international specifications and the percentage of the presence of Jordanian labor.

He said that this investment would have a positive developmental impact on the region and the employment of Jordanians, which would serve the Jordanian economy.

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