JORDAN US Report On The
Middle EastGeneral Dynamics wins a $17 million contract to install comprehensive urban operations suite in Jordan
Tuesday, 7 November 2006
The U.S. Army Program Executive Office for Simulation, Training and Instrumentation has awarded General Dynamics Information Technology a contract to establish a fully instrumented Military Operations on Urbanized Terrain site in Jordan. The total potential value of the contract if all options are exercised is $17 million over two years.
General Dynamics will install 44 buildings in a 360-degree live fire urban operations site with adjacent training ranges. The site will feature a high-tech instrumentation package to provide day and night video; audio capture; a control suite and an after action review theater. In addition, the site will include an extensive target range and battlefield special effects package, as well as a tactical driver’s training course. The comprehensive urban operations suite of integrated equipment will enhance the training readiness of allied forces from individual soldiers through battalions.AICI/Syska/Archirodon wins a 70 million delivery order for Construction of King Abdullah II Special Operations Training Center
Monday, 21 August 2006
AICI/Syska/Archirodon L.L.C., Arlington, Virginia, was awarded on 18 August 2006, a delivery order amount of $69,728,000 as part of a $92,348,000 firm-fixed-price contract for Construction of the King Abdullah II Special Operations Training Center.
Work will be performed in Amman, Jordan, and is expected to be completed by 4 September 2008. The U.S. Army Corps of Engineers, Winchester, Virginia, is the contracting activity.USAID provides $37 million for the expanded wastewater facilities in the city of Aqaba
Wednesday, 14 September 2005
Jordanian Minister of Water and Irrigation Dr. Munther Share’ and U.S. Charge d’Affaires David Hale have inaugurated today the expanded wastewater facilities in the southern Jordanian city of Aqaba. The U.S. and Jordanian governments co-financed this $42 million project to upgrade and expand wastewater collection, treatment and reuse facilities in Aqaba. The U.S. Agency for International Development (USAID) provided more than $30 million in grant funding and the Government of Jordan provided $5 million for the construction of the facilities. In addition, USAID provided $3.7 million to finance the project’s feasibility study and engineering design; and $3.3 million for the management and supervision services of the project.
The project involved: the rehabilitation of existing treatment ponds; the construction of a new mechanical treatment plant; the construction of a wastewater collection system to serve two new residential areas; and the construction of agricultural and urban reclaimed water pumping stations, transmission and storage facilities for the reuse of treated water. The contractor will also provide one year of operation and maintenance services, including training of Aqaba Water Company technical staff.Jordan's Ba2 rating, stable outlook reflect a high-but-decreasing debt burden, a significant dependence on foreign aid -- Moody's
Wednesday, 24 August 2005
In its annual report on Jordan, Moody's rating agency says the country's Ba2 rating and stable outlook reflect a high-but-decreasing debt burden and a significant dependence on foreign aid despite economic reforms. The government's gross direct debt, which is mainly external, stood at around 90% of GDP at end-2004, adds the report.
The economy will remain exposed to potential bouts of regional instability, though cushioned by foreign economic support, declared Moody's Vice President Tristan Cooper, author of the report.
The Jordanian economy's reliance on oil imports exposes fiscal and external current accounts to the volatility of international oil prices, notes the report. Although Jordan's strong international relations ensure foreign support in times of economic difficulty, the level of support remains unpredictable.
Jordan has also been making an effort to reduce its large implicit oil subsidy, since a marked reduction in grants from Saudi Arabia in May 2005 made the issue urgent, pointed out Moody's report. In an effort to reduce the oil subsidy, the Jordanian government raised domestic oil prices by a considerable margin in July 2005 as part of a plan to eradicate the oil subsidy by 2008. Other recent reforms include measures to raise taxation, improve revenue collection, and contain non-productive fiscal expenditure.
Exports from the country's Qualified Industrial Zones have also contributed to an improved balance of payments and a healthy accumulation of official foreign exchange reserves, the investors service analyst stated.ITT wins s $39 million contract for the repair of Jordanian M800, M900 series 5-ton trucks
Monday, 15 August 2005
ITT Federal Services, Colorado Springs, Colorado, was awarded on 11 August 2005, a delivery order amount of $39,098,002 as part of a cost-plus-fixed-fee contract for the repair of the M800 and M900 series 5-ton trucks.
Work will be performed in Amman, Jordan, and is expected to be completed by 30 May 2006. The U.S. Army Field Support Command, Rock Island, Illinois, is the contracting activity.IFC signs a $25 million loan with Jordan's manufacturing conglomerate, the Nuqul Group
Friday, 15 July 2005
The International Finance Corporation (IFC) has signed a $25 million long-term loan agreement with Jordan's manufacturing conglomerate, the Nuqul Group. IFC's financing will help fund the group's expansion and modernization in the Middle East and the restructuring of its corporate balance sheet.
Nuqul's core business comprises the integrated production, distribution, and marketing of hygienic paper products. FINE, the group's flagship brand, is synonymous with "tissue paper" in Jordan and throughout the Middle East, reflecting Nuqul's market leadership in the region.
The $25 million IFC loan will partially finance the group's four-year capital investment program to meet the strong growth projected in their core business.Moody's withdraws Baa1/Prime-2 ratings for foreign currency deposits for Arab Bank New York, assigns them to Arab Bank London
Thursday, 19 May 2005
Moody's rating agency has withdrawn the Baa1/Prime-2 ratings for long-and short-term foreign currency deposits for Arab Bank plc's New York branch. Baa1/Prime-2 ratings, which also represent the ceilings for foreign currency deposits of Arab Bank plc's branches operating in countries with rating ceilings higher than Baa1, have been assigned to Arab Bank plc's London branch. The outlook for the Baa1 rating ceiling has been changed to stable from positive.
Otherwise, Moody's upgraded Arab Bank Australia's issuer rating to Baa2, and changed the bank's deposit rating outlook to stable.
This rating action does not affect the C+ financial strength rating (FSR) and Ba3/Not-Prime foreign currency deposit ratings for Arab Bank plc, which is headquartered in Jordan.
The investors service ratings for Arab Bank plc's New York branch were withdrawn because the branch scaled down its activities and converted to an agency, as per the consent order of the Office of the Comptroller of the Currency (OCC) issued earlier this year. The OCC order came following the discovery of deficiencies in the internal controls, particularly in the area of Bank Secrecy Act and Anti-Money Laundering compliance. Although the conversion of the New York branch into a Federal Agency strips off Arab Bank plc's direct access to the US payments system, Moody's does not consider this as a significant setback to Arab Bank plc's global franchise, and thus maintains the ratings .
However, the rating agency explains that the outlook for the Baa1 rating ceiling was changed to stable from positive because, given the civil lawsuits filed in the US against Arab Bank plc and the allegations of channeling of funds to terrorist groups, the rating would most probably not be upgraded within the time-frame typically associated with a positive outlook. Moody's does not consider the civil lawsuits to have negative rating implications at present, but will continue to monitor the course of events related to the lawsuits.
According to Moody's, a key determinant for the London branch to pierce the deposit ceiling for Jordan-domiciled banks is Arab Bank plc's particular structure of geographical diversification, where approximately 80% of the bank's assets, funding and revenues lie outside Jordan in 26 different countries. However, more than 40% of the bank's assets are booked in countries rated below investment grade - around 60% of the bank's assets are booked in the Middle East and around 50% of the bank's income is generated in this region, which has historically suffered from geo-political crises and high sensitivity to oil prices.
Otherwise, Arab Bank plc has developed crisis management plans that should allow it to meet its obligations under conceivable stress scenarios, added the rating agency. In addition, Arab Bank Switzerland, a sister company of Arab Bank plc with an identical ownership structure, plays an important role in being a safe haven for the depositors of the bank in a crisis situation.
Moody's C+ FSR reflects the bank's strong and defensible franchise in the Arab world, built on a stable and loyal customer base-predominantly Arab Nationals. The bank is among the largest in the Middle East and plays a regional role.
Arab Bank plc is headquartered in Amman, Jordan, and reported total assets of $23.1 billion as of 31 March 2005.World Bank approves a $15 million loan to strengthen the capacity of Jordan's civil service to carry out reforms
Tuesday, 22 March 2005
The World Bank has approved today a $15 million loan to support the Government of Jordan to strengthen the capacity of the civil service to carry out the national program of reforms.
The Public Sector Reform Capacity-Building seeks to advance Jordan’s broad program of civil service reforms by hiring staff, providing goods and equipment, as well as technical assistance to government agencies responsible for carrying out an ambitious public sector reform program. The project will also support the timely implementation of reforms in range of areas from policy coordination to improved financial and human resource practice.
Jordan's assets are underutilized due to institutional challenges faced in red tape, policy coordination, programming capacity and maintaining a serviceculture.King Abdullah II relieves Prince Hamzah from the post of Crown Prince
Sunday, 28 November 2004
"I have decided to free you from the constraints of the position of Crown Prince," said King Abdullah II in a letter to his half-brother Hamzah ben al Hussein, according to Jordan News Agency (Petra) "in order to give you the freedom to work and undertake any mission or responsibility I entrust you with."Lockheed receives a $87 million contract to support upgrades to 17 Jordanian F-16
Thursday, 21 October 2004
Lockheed Martin recently received a $87 million contract to support upgrades to 17 F-16A/Bs transferred to the Royal Jordanian Air Force.
The main upgrade is the F-16A/B Mid-Life Update (MLU). This modification consists of enhancements to the cockpit, avionics, sensors and weapons. These upgrades also improve system reliability and supportability. In addition, future software upgrades will be available through the common M-series F-16 software upgrade program being implemented by the U.S. Air Force and the five European Participating Air Forces (EPAF).
The 17 aircraft to be modified are USAF Block 15 F-16A/Bs with the Air Defense Fighter modification provided to Jordan under the Peace Falcon II Foreign Military Sales program. Some were flown to Jordan in 2003 and the rest are in storage in the United States. These aircraft are in addition to the 16 F-16A/Bs received by Jordan in 1997-98 in the Peace Falcon I program.
The upgrade package also includes Falcon UP and Falcon STAR structural upgrades. The structural upgrades will extend the service life to 8,000 flight hours under demanding usage criteria. With typical flight rates, these aircraft could remain in service for another 20 years.
The letter of offer and acceptance (LOA) for this Foreign Military Sales upgrade program was signed in January of this year and long-lead effort began in February. Modification kits will be delivered from the spring of 2006 through the spring of 2008. All aircraft will be modified between mid-2006 and mid-2009. A brief flight test program will be conducted in late summer 2006.
The contract was awarded September 30. It covers kits, installation instructions, training, and normal spares and support after the aircraft have been modified. The kit components will be produced in the United States and Europe. The aircraft modifications will be performed at Turkish Aerospace Industries (TAI) facilities in Ankara, Turkey, and at a base to be named in Jordan.U.S. imports from Jordan go up to $446 million in the first half of 2004
Friday, 13 August 2004
U.S. exports to Jordan went up to $266 million in the first half of 2004 from $228.6 during the same period in 2003.
According to U.S. Census Bureau today, U.S. imports from Jordan also went up to $445.9 million from $266.4 million in the first half of 2003.CH2M Hill/Dragados/Soluziona wins an $11 million contract for design, construction of a contingency aircraft parking apron in Jordan
Monday, 14 June 2004
CH2M Hill/Dragados/Soluziona (Joint Venture), Englewood, Colorado, was awarded on 9 June 2004, a delivery order amount of $10,923,443 as part of a $53,794,223 firm-fixed-price contract for design and construction of a contingency aircraft parking apron.
Work will be performed at King Faisal Air Base, Al Jafr, Jordan, and is expected to be completed by 14 January 2005. The U.S. Army Corps of Engineers, Winchester, Virginia, is the contracting activity.World Bank lends Jordan $38 million to start constructing Amman Ring Road, provide basic infrastructure for an inland port and relocate Amman Customs
Thursday, 3 June 2004
The World Bank has approved today a $38 million investment loan to help the Government of Jordan develop efficient transport and logistics services and provide access to affordable land for investment and urban development purposes.
In recent years, the Amman Metropolitan Area (AMA), which includes Amman, Zarqa, Ruseifa and surrounding areas accounts for more than 50 percent of Jordan's population, contains about 80 percent of the country's industrial sector and provides jobs for more than half of the country's population.
The proposed project will construct Phase 1 of the Amman Ring Road (about 40 kilometers) that will improve access to airport and other key locations and permit freight traffic to bypass congested urban areas. It will also open up about 300 square kilometers of affordable land for future expansion and growth. The project will additionally provide basic infrastructure for an inland port and relocate the Amman Customs house.Raytheon wins a $65 million contract to upgrade Jordan's M60A3 tanks with Integrated Fire Control System
Thursday, 16 April 2004
Raytheon Company has been awarded a $64.8 million contract by the Jordan armed forces to upgrade their M60A3 main battle tanks with Integrated Fire Control System
(IFCS).
Raytheon will manufacture and test 82 IFCS upgrade kits in Indianapolis and will provide technical assistance to Jordan armed forces personnel during the installation in Jordan. Spares and depot-maintenance equipment to establish a limited depot-support capability in Jordan will also be provided under this contract.President Bush will welcome King Abdullah II of Jordan to the White House on April 21
Friday, 26 March 2004
President George W. Bush will welcome King Abdullah II of Jordan to the White House on April 21, 2004, announced White House Press Secretary.Shaheen of Jordan wins a $72 million contract for gasoline, diesel fuel to Iraq
Tuesday, 16 March 2004
Shaheen Business and Investment Group, Amman, Jordan, was awarded a $71,831,883 fixed price with economic price adjustment contract for gasoline and diesel fuel for Iraq on 15 March 2004.
Performance period begins 1 April 2004, the completion date is expected to be 30 June 2004. The contracting activity is the Defense Energy Support Center, Fort Belvoir, Virginia.New Gen of Jordan will build an $85 million radio dispatch, cellular telecom. network with $49 million loan guarantee from Ex-Im Bank
Tuesday, 24 February 2004
New Generation Telecommunications Company (New Gen) of Amman, Jordan will build an $85.4 million nationwide radio dispatch and cellular telecommunications network with $49.4 million loan guarantee financing from the Export-Import Bank of the United States (Ex-Im Bank). The loan guarantee will finance equipment from Motorola Inc., Schaumburg, Illinois, and a number of other U.S. exporters and suppliers.
The project, which includes an Integrated Digital Enhanced Network (iDEN) supplied by Motorola, will be the company's first Middle Eastern network outside of Israel. The network features "push-to-talk" (similar to walkie-talkie) service and mobile telephony; text messaging and data services; and is to become operational between this spring and early 2005.Pratt and Whitney wins a $9 million contract to provide for engine upgrade of 8 Jordanian F100
Wednesday, 14 January 2004
Pratt and Whitney Military Aftermarket Services, San Antonio, Texas, is being awarded a $9,355,376 firm fixed price contract to provide for engine upgrade, of F100-PW-200/220E configuration, 8 each for the Royal Jordan Air Force.
This work will be complete by July 2004. The Headquarters Oklahoma City Air Logistics Center, Tinker Air Force Base, Oklahoma, is the contracting activity.Raytheon wins a $47 million contract to upgrade Jordan's M60 battle tank with Integrated Fire Control System
Monday, 8 December 2003
Raytheon Company's Raytheon Technical Services Company LLC (RTSC) subsidiary has been awarded a $46.6M contract by the Jordan Armed Forces to upgrade their M60 main battle tank with Raytheon's Integrated Fire Control System (IFCS).
RTSC will upgrade 50 IFCS systems already installed in Jordanian M60 tanks under a prior contract, will install IFCS kits in 50 additional M60s, and will provide spares for all the systems. Raytheon will assemble and test the kits in Indianapolis, Indiana and will provide technical assistance to Jordan Armed Forces personnel during the installation in Jordan.
Raytheon has been working with Jordan's King Abdullah II Design and Development Bureau (KADDB) for the past three years on its Phoenix Level 1 IFCS upgrade and Level 2 Lethality upgrade efforts for the M60 main battle tank, a program designed to incrementally increase the M60's operational capability. Through that effort, one battalion has been fitted with this upgrade capability and deployed and is currently in-service with the Jordan Armed Forces. More than 2,000 rounds have already been successfully fired using the Phoenix Level 1 upgraded tanks.President, Mrs. Bush Will Host King Abdullah II, Queen Rania of Jordan at Camp David during September 18-19
Thursday, 11 September 2003
President George W. Bush and Mrs. Bush Will Host King Abdullah II and Queen Rania of Jordan at Camp David during 18-19 September 2003, announced White House Press Secretary.Moody'a upgrades Jordanian banks' deposit ratings, places positive outlook on Arab Bank's branch deposit rating ceiling
Wednesday, 3 September 2003
Moody'a has upgraded Arab Bank PLC deposit ratings and placed positive outlook on Arab Bank's branch deposit rating ceiling.
On 20 November 1998, Moody's has set the highest rating for deposits of foreign branches of Arab Bank PLC at Baa1/Prime-2 and assigned B1/not-Prime ratings for foreign currency deposits in Jordan and C+ bank financial strength rating.Moody's upgrades the country ceiling for foreign currency bonds of Jordan to Ba2 from Ba3
Thursday, 21 August 2003
Moody's rating agency has upgraded the country ceiling for foreign currency bonds of issuers domiciled in Jordan to Ba2 from Ba3 and the ceiling for foreign currency bank deposits to Ba3 from B1. Consequently, the government of Jordan's foreign currency bonds are raised to Ba2, while the government's domestic debt has been upgraded to Baa3 from Ba3. All the new ratings carry stable outlooks.
According to Moody's, the upgrade of Jordan's ratings reflects the positive impact on social and macro-economic stability of the reforms that have been undertaken over the past few years. External liquidity has improved markedly and foreign currency reserves now cover around one year of imports. However, poverty, unemployment, education and health issues continue to represent a significant challenge for the government, and are being addressed through the Program for Social and Economic Transformation (PSET).
According to the investors service, Jordan's Ba2 foreign currency debt ratings continue to reflect the onerous, albeit declining, size of the external debt relative to GDP. Jordan's debt dynamic has improved over the past few years, and the prospect of a debt reduction following the exit agreement with the Paris Club has also improved.
The Baa3 rating for the domestic currency debt reflects the small size of this debt relative to GDP and the high degree of maneuverability in its management, says Moody's. The new rating takes into account the government's strategy of gradual substitution of external debt with domestic debt.
Lessening of the geopolitical risk stemming from the threat represented by Iraq has facilitated the upgrade, says the rating agency. The negative financial impact of the war on the Jordanian economy has been largely mitigated by generous grants that are expected to amount to around 10.6% of GDP in 2003, notes Moody's. Although the investors service believes that the regional instability does not stifle Jordan's economy, the country's full economic growth potential will be difficult to attain until such risks abate.
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