(MENAFN - Kuwait News Agency (KUNA)) The Jordanian government on Wednesday approved agreements with Estonian and Malaysian firms to generate electricity from direct burning of shale oil to produce 470 megawatt in Al-Atarrat area, the first such project in the Kingdom. The total investments of the project exceed USD two billion, Jordanian Prime Minister Abdullah Ensour said in a statement by his office, stressing the importance of the project as it depends on a local source of fuel.
For his part, Energy Minister Mohammad Hamed said the government had allocated a total area of 24 square kilometers in the southern part of the Kingdom for the huge project to be carried out by Attarat Power Company (APCO) - a coalition of Estonia's Eesti Energia, Malaysia's YTL and Jordan's Near East Co.
Experts estimate Jordan's reserves of shale oil at 70 billion tons. The country imports up to 97 percent of its needs of energy.