Confirming its commitment to current and future projects

Amman, December 2009 – Jordan Dubai Capital (JD Capital) announced that, in compliance with His Excellency Mr. Samir Zaid Al-Rifa’i’s wishes, it will be withdrawing from bids directly and indirectly related to the Government made during the time H.E. was the CEO of the company. In accordance, JD Capital will withdraw from the Jordan Petroleum Refinery Company (JPRC) expansion and rehabilitation project, as well as the consortium of the Al-Kamshah wind power project, and will be relinquishing its share in the Al Kamshah project to the consortium.

In a recent press release, JD Capital expressed its interest in maintaining its current investments and building upon them and stressed its strong and ongoing interest in future projects put forward by the Government. JD Capital aims to continue to follow its investment plan, which is based on sector diversification and includes investments in the energy and infrastructure sector, real estate and tourism sector, financial sector, and other vital economic sectors.

Commenting on this decision, Mr. Ismail Tahboub, Acting CEO at JD Capital, said: “We understand the different reasons behind His Excellency Samir Al-Rifa’i’s wishes, which are founded on the national integrity that H.E. has always been renowned for, as H.E. is fully aware of the company’s strategy with regards to these projects. We also understand H.E. Al-Rifa’i’s interest in instilling the principals of professional transparency.”

He further confirmed that JD Capital will continue to follow the same path and direction that it has always adhered to, and that it welcomes all opportunities that positively affect the national economy. He also stated that the company remains dedicated to cultivating promising opportunities within the Jordanian economy with its highly qualified team and the strong investment policies that H.E. Al-Rifa’i engrained within the company during his leadership of JD Capital’s operations with a vision of enhancing cooperation between the public and private sectors and positively impacting both the national economy and the Jordanian people in line with the directions of His Majesty King Abdullah II.
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This news release has been distributed by Bidaya Corporate Communications on behalf of Jordan Dubai Capital.
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