YTL Power International Increases Stake In APCO to 45%
Attarat Power Company (APCO) Announces Financial Close For The USD 2.1 Billion Oil Shale Power Project in Jordan
Tan Sri Dato' (Dr) Francis Yeoh Sock Ping, Managing Director, YTL Power International Berhad said, "We first brought our international independent power producer ("IPP") expertise to this project in 2011. We believe that this is a unique project that will have a positive impact on the Jordanian economy as well as yield solid returns. Financial Close is a landmark that is a result of the hard work and commitment of all parties involved. We are pleased to have the opportunity to increase our initial participation in the project from 30% to 45% and step into a leading role in the development and completion of this exciting project."
Jason Pok Hooi Loong, CEO Designate, APCO said, "Financial Close entails notice to proceed for the construction; APCO is honoured to be entrusted with the realisation of this most strategic investment. We and GPEC will continue to work closely with the Jordanian Government and NEPCO to complete this largest ever private sector project in Jordan in 2020, in order to generate despatchable, reliable power using local resources."...