YTL Power raises stake in Jordan’s APCO to 45%

Yeoh: ‘The 554MW oil shale-fired power plant will cover a substantial portion of Jordan’s energy needs and reduce the kingdom’s import of oil products for power generation.’

PETALING JAYA: YTL Power International Bhd and its partners have entered into equity agreements for the US$2.1bil 554MW oil shale project being developed by Attarat Power Company (APCO) in the Hashemite kingdom of Jordan.

APCO’s existing shareholders, comprising YTL Power, Eesti Energia AS and Near East Investment (NEI), signed the agreement to introduce a new shareholder, Yudean Group, to the project to develop an oil shale-fired 554MW (gross) power plant and mine in Jordan.