IBC to invest $400m in Aqaba projects
Amman , July 5, 2007
The Iraqi Business Council (IBC) has pledging to invest about $400 million in infrastructure and tourism projects.
This was announced following a three-day meeting at Jordan's Red Sea port of Aqaba , said a report in the Arab News.
The meeting, held under the title 'Aqaba as the Gate for Iraq', involved 65 leading Iraqi businessmen who appraised the role of Red Sea facility as a conduit for Iraq's reconstruction and explored available investment opportunities at the port.
One of the projects approved during the conference was a $150 million holding company for investing in the Jordanian port that was concluded between the IBC and the Aqaba Development Corporation, the ADC CEO Imad Fakhoury is quoted to have said in the report.