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Jordan badly needs investments in energy

June 27, 2005 at 7:28 AM   |   Comments

AMMAN, Jordan, June 27 (UPI) -- Jordan needs to secure investments worth $3.33 billion in the energy sector in order to maintain a steady supply for growing demands, a ministry report said.

"Ensuring an uninterrupted supply of energy will constitute one of the biggest challenges facing the Jordanian government in the next five years, in view of growing local demand and the rise in international energy prices," said a report published Monday by the ministry of energy.

The report projected an increase in demand for energy, especially electricity.

The cost of imported energy in the past five years reached $3.64 billion, including $1.7 billion only last year, the report said.

The report noted that the Jordanian government is planning a new strategy aimed at reducing the consumption of imported energy and achieving a balance between imports and exports.

© 2005 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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