The Executive Privatization Commission
Jordan’s Privatization Program
A Success Story: Accomplishments and Challenges
Outlook
· Launched in 1996, the Privatization Program gained momentum as of 1998 to become one of the most, if not the most successful privatization program in the region and a model to be followed as acknowledged by the World Bank and other regional and International specialized agencies.
· To date, 66 transactions have been completed including the government’s shares in 55 companies under the Jordan Investment Corporation Portfolio.
· Privatization proceeds amount to over $1300 million, including the $163 million yield of the sale of the government’s stake in JIC companies.
· The program has successfully attracted over $1 billion in investments associated with privatization particularly in the telecom, water, transport, and other privatized sectors.
· The Privatization Program contributes to the financing of a number of projects under the umbrella of the Economic and Social Transformation Program and to a number of development projects as stipulated by the Privatization Law no. 25 for the Year 2000.
Completed Transactions
1. Jordan Cement Factories
2. Public Transport Corporation
3. Ma’in Spa Complex
4. Jordan Telecommunications Company/ JTC
5. Water Authority of Jordan (WAJ)
6. Airports Duty-Free Shops
7. Aircraft Catering Center
8. Royal Jordanian Air Academy
9. Assamra Water Treatment Plant/ BOT
10. Arab Potash Company/APC
11. Container Terminal - CT
12. Jordan National Shipping Company
13. Jordan Express Tourism Transport / JETT
14. Jordan Aircraft Maintenance Company/JORAMCo
15. Jordan Company for Wood Processing and Production
16. Jordan Investment Corporation / JIC Portfolio
17. Agricultural Marketing and Processing Company (AMPCO)
18. Jordan Phosphate Mines Co. (JPMC)