KBW inks LED lighting deal with Jordan ministry
Up to 100,000 lighting units across Jordan will be replaced with LED alternatives to reduce energy consumption by 50% to 70%, it has been reported
KBW Investments has signed a contract with Jordan's Ministry of Energy and Mineral Resources.
Under the terms of the deal, KBW will implement street lighting and establish a factory to manufacture LED lighting units in the country.
According to Jordan Times, citing Jordanian news agency Petra, the contract involves replacing 100,000 lighting units across the country's streets in order to reduce energy consumption by 50% to 70%.
The factory will be developed in partnership with Cities and Villages Development Bank, and the King Abdullah II Design and Development Bureau, the report added.
Energy Minister Ibrahim Saif and Saudi's Prince Khaled Bin Alwaleed Bin Talal, founder and owner of KBW Investments, signed the deal at a ceremony attended by Jordanian Prime Minister Hani Mulki.