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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Jordan urges its industrial sector to invest in Iraq

    Rocky
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    Jordan urges its industrial sector to invest in Iraq Empty Jordan urges its industrial sector to invest in Iraq

    Post by Rocky Sat Nov 04, 2023 2:48 pm

    Jordan urges its industrial sector to invest in Iraq

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    Amman - Jordan. "Internet"



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    Economy News - follow-up
    The Jordanian Minister of Energy and Mineral Resources, Saleh Al-Kharabsheh, discussed, with representatives of the chambers of industry in his country, the needs of the industrial sector for the projects and programs presented by the ministry and targeting the sector, with the aim of identifying their needs and enhancing the role of the sector, pointing to working within a coalition to develop renewable energy projects and exchanging experiences with Iraq, Because of the opportunities it provides .
    This came during his meeting with representatives of industrial chambers, in the presence of the Chairman of the Board of Directors of the Jordan Chamber of Industry, Fathi Al-Jaghbir, where he referred to the many services provided by the Ministry to the industrial sector, the first of which is the design and launch of the third phase of the program to support energy efficiency in the industrial sector during the middle of the year 2022 .
    Al-Kharabsheh stressed that the program aims to increase the sector’s competitive ability in light of the high production costs and reduce the energy bill, and enable it to implement energy rationalization projects and achieve sustainability, in service to the sector as the largest operator and supporter of the national economy, as an integrated and distinguished financing program was developed in partnership with several financing windows. It is represented by the Central Bank, commercial banks, the Jordanian Loan Guarantee Company, and the Jordan Chamber of Industry .
    According to the Jordanian Minister of Energy, the program supports energy audit studies for the factory with 50% of the Renewable Energy Promotion Fund, so that the study is technically approved and the loan is granted to the beneficiary with a ceiling of 350 thousand dinars, equivalent to more than ($493 thousand), to implement the project, and accordingly the owner is granted... The factory is a grant that consists of paying all the interest or Murabaha resulting from the loan, and paying the cost of guaranteeing the loan with the Jordanian Loan Guarantee Company .
    So that the factory obtains financing without any additional burdens on its cash flow, so that the beneficiary can pay the bank’s installments in monthly payments that represent the value of the savings achieved from the electricity bill for his factory, according to Al-Kharabsheh, who confirmed that during the program implementation journey, the Fund supervises and follows up on the project and provides technical opinion and evaluation. For the entire program, indicating that this mechanism would encourage the industrial sector in Jordan to implement supported energy rationalization projects .
    During the meeting, Al-Kharabsheh urged industry representatives to take advantage of the time-related tariff system, or the so-called time-of-use tariff, currently implemented by a decision by the Energy and Minerals Regulatory Authority, which provides an optional reduction for three segments, including the medium-sized industries sector, and within the mechanism for calculating the electrical tariff based on The time in which energy was consumed, indicating that the system aims to reduce electricity costs in sectors, while the results and impact of the application will be evaluated to allow room for its application in other sectors in the future .
    While the Jordanian Minister of Energy reviewed the opportunities available to the industrial sector to work within a coalition to develop renewable energy projects in Iraq, pointing out that Jordanian companies have priority to participate in building energy production plants from renewable sources on the Iraqi side and to exchange experiences .
    Representatives of the industrial chambers, in turn, recorded several observations that reflect the positive results of participation in the program to support energy efficiency in the industrial sector, and the challenges facing some of them in not accepting the program due to the mismatch of conditions, indicating that the time-related tariff does not affect some industries in the case of full operation. The factory during and outside peak periods .
    Representatives of the chambers of industry indicated that the reasons for the lack of demand for the energy efficiency support program provided to the industrial sector are the lack of awareness of some industrial owners of the feasibility of applying energy audit studies, calling for greater facilities in the procedures for obtaining loans from the financing agencies approved in the program .
    For his part, Chairman of the Board of Directors of the Jordan Chamber of Industry, Fathi Al-Jaghbir, appreciated the programs and projects directed by the Ministry for the industrial sector in Jordan, in addition to the efforts aimed at reducing production costs and the energy bill for the sector, indicating that this matter is being felt by workers in the sector and is being closely followed up by the Jordan Chamber of Industry. Eagerly .
    Meanwhile, the Director of the Energy and Environmental Sustainability Unit at the Jordan Chamber of Industry, Maan Ayasrah, praised the program implemented in cooperation with the Ministry of Energy, pointing out that the number of participating factories in its previous stages reached 44 factories, all of which completed the implementation of energy audit studies with consulting companies, and the number of advanced factories reached 51 factories participated in the program in its third phase .
    Ayasra confirmed that the Jordan Chamber of Industry is directing to implement workshops in four governorates with the aim of informing factories about the program, and inviting factories to benefit from the services provided with the aim of reducing energy consumption in their facilities .
    Meanwhile, the head of the projects department at the Renewable Energy Fund at the Ministry of Energy, Lina Moubaideen, confirmed that the ceiling for supporting energy audit studies for the plant amounts to 10 thousand dinars, or more than (14 thousand US dollars), noting that the foundations and criteria for benefiting from the program are constantly subject to review. By the Ministry in cooperation with the Board of Directors of the Jordan Chamber of Industry .
    The program to support energy efficiency in the industrial sector is a type of Jordanian government support for the national industrial sector and to support market movement and employment. It is a program with harmonious economic and social objectives. The total cost of the projects that will be implemented in its third phase is estimated at approximately 10 million Jordanian dinars (1.4 million (US dollars) will have a noticeable impact on the market, the industrial sector, and the national energy bill in general.



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