Opening new doors of cooperation in infrastructure investment between Jordan and Kazakhstan

Amman, November 2009 – Within its commitment to investing in strategic national infrastructure, and as part of its interest in building strong partnerships with leading regional and international investment and infrastructure companies, Jordan Dubai Energy & Infrastructure (JDE&I) – the investment arm of Jordan Dubai Capital in the energy and infrastructure sectors– announced the signing of a memorandum of understanding with Kazyna Capital Management (KCM), the private equity arm of the soverign wealth holding company Samruk-Kazyna.

By virtue of this memorandum, both JDE&I and KCM agree to utilize their respective expertise to jointly invest in and establish private equity and infrastructure funds, as well as to develop various investment and infrastructure projects and activities in both Jordan and the Republic of Kazakhstan that not only offer strong returns on investment, but also help develop vital infrastructure in both countries.

Commenting on the signing of the memorandum, His Excellency Samir Al-Rifa’i, Chairman of JDE&I, said: “We are proud to be cooperating with Kazyna Capital Management in developing infrastructure projects that help improve the quality of infrastructure in both Jordan and Kazakhstan. This memorandum will enable us to jointly participate in dynamic investment opportunities in various industry sectors such as power, water, and transportation logistics and use our respective expertise to establish unique and mutually beneficial infrastructure projects, which is in line with JDE&I’s business plans.
By playing a pivotal role in creating a strong and technically sound infrastructure in Jordan that caters effectively to the growth needs within the Kingdom, we hope to support and stimulate economic growth and industrial development across all sectors, positioning Jordan as an top-tier investment destination in accordance with the vision of His Majesty King Abdullah II.”

Expressing his own pleasure with this new partnership, Mr. Almas Chukin, Deputy Chairman of the Management Board at KCM, stated: “KCM’s primary objective is to increase its involvement in investment projects and the development of non-extractive industries in the Republic of Kazakhstan, and as such it brings us great pleasure to be cooperating with a leading company such as JDE&I for this purpose. We believe that our new partnership with Jordan Dubai Energy & Infrastructure will help us achieve our objectives by drawing upon the unique expertise of both parties.”

This news release has been distributed by Bidaya Corporate Communications on behalf of Jordan Dubai Capital.
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