Jordan's government and Enefit Jordan Attarat Power Company (APCO), an affiliate of Estonia Enefit Corp., on Wednesday signed an agreement to build a shale oil power-generating station with a capacity of 470 megawatts.
The USD 2.2 billion-worth deal was inked here by Jordanian Minister of Energy Mohammad Hamed and APCO's Chairman Andres Anijalg in the presence of Jordanian Prime Minister Abdullah Ensour.
"It will be implemented over two stages with the first lasting for 38 months and the second 42 months," the Minister said, highlighting the importance of the project in meeting the country's growing need for energy.
The new power project will substitute more expensive methods of electricity generation and shale oil will replace liquid fuels.