Amman - The Jordan Petroleum Refinery Co (JPRC) has signed a preliminary memorandum of understanding with a consortium of 12 Swiss banks that allow them to acquire a 51-per-cent stake in the sole Jordanian downstream facility, a JPRC spokesman said Monday.
The agreement, signed Sunday, provides for "a strategic partnership" that involves the spending of about 1.5 billion dollars by the Swiss banks for financing the JPRC's fourth expansion, the spokesman told German Press Agency dpa, speaking on condition of anonymity.