Ammon News - AMMONNEWS - The final deal of a major project to produce electricity from oil shale combustion in the central region of Jordan by an Estonian firm is expected to be officially signed in no more than two weeks, Minister of Energy and Mineral Resources, Mohammad Hamid said Sunday.

The minister said in a press conference that the cabinet endorsed today all agreements related to the project which will be carried out by Enefit, a joint Estonian-Malaysian consortium. Hamid added that the $2.4-billion project will be implemented on a build-own-operate basis. He explained that the government and the company agreed on a price of JD0.095 per kilowatt/hour if the agreement is extended to 30 years and JD0.092 for 40 years.

The current cost of generating power in the Kingdom is JD0.17 for kilowatt/hour.

*Petra