Social Security Corporation buys Cegco stake

17 November 2007

The investment unit of the Social Security Corporation has bought a 9 per cent stake in Jordan’s Central Electricity Generating Company (Cegco).

The purchase by the state-owned body means the government still holds 49 per cent of the electricity company, which runs five major plants in the country.

In September, Amman-based Energy Arabia (Enara), paid $320m for a 51 per cent stake. That company is a joint venture of Amman-based JD Capital,Malaysia’s Malakoff Berhad and Athens-based Consolidated Contractors International Company.

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