HRH Prince Khaled bin Alwaleed’s KBW Investments sign two historic PPP and BOT agreements in Jordan

Wednesday 11th Jan 2017
HRH Prince Khalen and His Majesty King Abdullah

HRH Prince Khaled and His Majesty King Abdullah

In August of 2016 KBW Investments signed two historic PPP and BOT agreements with respective governmental entities of the Hashemite Kingdom of Jordan to implement large-scale LED adoption countrywide and in the Greater Amman Municipality (GAM). The initiatives, spearheaded by KBW Investments founder and Chairman HRH Prince Khaled bin Alwaleed bin Talal, entail two respective LED installation agreements that are preceded by the construction of a new LED factory. Motivated to play a role in His Majesty King Abdullah II Bin Al-Hussein’s vision for the Kingdom’s adoption of alternative energy sources, KBW led by Prince Khaled, devised several schemas that were presented in 2015.

“The chief driving force behind KBW’s investment activities in Jordan are twofold: energy security and fostering the reduction of energy consumption. KBW Investments partnered with Leotek, a subsidiary of Taiwanese multibillion dollar technology manufacturer LITE-ON Group, two years ago with the ultimate goal of bringing efficient, transformative technological solutions to the region. This is Leotek’s first project of this size and scale,” said Prince Khaled remarking on the initiatives. “With the help of the KBW Investments team in Jordan, after undertaking research into PPP regulations together with Jordanian investment laws the plans were developed as joint undertakings – a first for the country. Introducing the technology itself was one challenge we faced, and another challenge was that each road’s varying conditions required specific types of luminers. The respective Jordanian governmental entities had high standards of road safety, so to simultaneously meet those requirements while properly addressing the country’s topographical diversity, we had to determine the best matches in a multitude of individual scenarios. Leotek’s technical team together with Jordanian officials performed site surveys on more than 700 kilometers that promised exceptional results, thereby cementing KBW’s decision to invest heavily. I find it inspiring that the Minister of Public Works and Housing, Sami Halaseh, Minister of Energy and Mineral Resources, Ibrahim Saif, and the Minister of Municipal Affairs, Walid Muhyddin Al Masri, were so adamant in their collective support of our projects with Jordan’s environmental health and energy security amongst their key reasons.”

The LED installation are set to provide huge energy savings in Jordan, in some areas reaching up to 70 percent – calculations estimate $US20 million will be saved annually; the energy expenditure savings were determined by assessment tests in Jordan that compared the various pre and post site consumption levels across the country.

For more information please visit KBW Investments.

More News

Houthis launch drone attacks on Saudi airports

Yemen’s Houthi Rebels have launched drone strikes on Saudi Arabia’s King Khalid Air Base and Abha and Najran airports, the Houthis’ military spokesman reported. The Houthi military spokesman claimed the attack on Abha airport “hit […]

Saudi Prince launches Hajj awareness-raising campaign

Prince Khaled Al-Faisal launched the 12th awareness-raising campaign “Hajj: Worship and civilized conduct” under the banner of “A message of peace.” The Prince’s campaign aims to raise awareness of Hajj regulations and the need to […]