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YTL Power ventures into Jordanian oil shale projects

The Edge Malaysia, December 14, 2010 by Joseph Chin

KUALA LUMPUR: YTL POWER INTERNATIONAL BHD is venturing into Jordanian oil shale projects which will see it building an oil plant with an output with 38,000 barrels per day.

YTLPI said on Tuesday, Dec 14 it had acquired a 30% stake in Eesti Energia, Near East Investment's (NEI) Jordanian oil shale projects.

As the new strategic partner, YTLPI will contribute its experience in developing and operating large energy production and trading assets in emerging markets.

According to the new shareholding structure Eesti Energia owns 65%, YTLPI 30% and NEI 5% of the oil shale projects in Jordan.