Summary of Proposed Investment
Project Number
11369
Company Name
MIDDLE EAST REGIONAL DEVELOPMENT ENTERPRISE
Date SPI Disclosed
Jan 31, 2002
Country
Jordan
Industry
Manufacturing
Projected Board Date
Mar 15, 2002
Status
Completed
Sector
Miscellaneous and Industrial Ores (Including Magnesite, Fluorite, Sulfur, Soda Ash, Clays, Gypsum, Lime, Peat, Boron, Diatomite, Feldspar, etc.)
Date Revised SPI Disclosed
Feb 5, 2002
Department
Regional Industry MAS MCT
Environmental Category
B - Limited
Previous Events
Approved : Apr 5, 2002
Signed : Jun 28, 2002
Invested : Dec 6, 2002
Project Description
Middle East Regional Development Enterprises (MEREN) was established in 1996 as a private shareholding company to develop investment projects in Jordan and the MENA region. The proposed project is to establish MEREN silica sand plant (MEREN) which will manufacture high quality silica sand to be exported mainly to European glass manufacturers. With an installed annual capacity of 530,000 tons, MEREN is designed to manufacture a number of different quality products, including dried and milled silica for glass, ceramics, sodium silicate, glass fiber, oil and gas fracturing and other industries that use high quality silica sand.
The proposed project will promote healthy local enterprise in the silica sand sector, an industry in which Jordan has a natural advantage. It will directly create approximately 30 jobs in the silica sand factory, and indirectly up to an estimated 350 jobs in the transport, storage and handling, and mining sectors. Since all MEREN’s production will initially be for exports, the proposed project will increase Jordan’s export performance and foreign currency earnings. In the longer-term, it may also stimulate establishment of new downstream industries in Jordan such as glass or ceramics manufacturing that use high quality silica sand. The project will involve transfer of the most advanced production technology, know-how and local staff training by Outocumpu to Jordan and it will promote creation of an internationally competitive local enterprise.
The proposed project will promote healthy local enterprise in the silica sand sector, an industry in which Jordan has a natural advantage. It will directly create approximately 30 jobs in the silica sand factory, and indirectly up to an estimated 350 jobs in the transport, storage and handling, and mining sectors. Since all MEREN’s production will initially be for exports, the proposed project will increase Jordan’s export performance and foreign currency earnings. In the longer-term, it may also stimulate establishment of new downstream industries in Jordan such as glass or ceramics manufacturing that use high quality silica sand. The project will involve transfer of the most advanced production technology, know-how and local staff training by Outocumpu to Jordan and it will promote creation of an internationally competitive local enterprise.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Dr. Hassan Saket
Middle East Regional Development Enterprises
P.O. box 941394 Amman, 11194 Jordan
Phone: 962 6 567 9679
Fax: 962 6 569 7545
Middle East Regional Development Enterprises
P.O. box 941394 Amman, 11194 Jordan
Phone: 962 6 567 9679
Fax: 962 6 569 7545