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Greece’s Metka Signs $103 Million Jordan Power Deal, Petra Says

Metka SA (METTK) signed a $103 million agreement to boost generating capacity at Samra Electric Power Co.’s plant in Jordan by 146 megawatts, state-run Petra news agency reported.

The project, to be completed by July 2013, will help Samra Electric meet expected power demand next summer, the state-run agency said, citing Amjad Rawashdeh, the plant’s director general. Metka, based in Athens, won a $155 million contract to increase the plant’s capacity by 143 megawatts, Petra reported on Sept. 24.

Jordan, one of the smallest economies in the Middle East, imports more than 90 percent of its oil and relies on foreign investment and grants to support its budget and current-account deficits. The kingdom’s power stations have had to switch to costlier fuels such as diesel after repeated interruptions in natural gas supplies caused by sabotage of the export pipeline in neighboring Egypt.

To contact the reporter on this story: Mohammad Tayseer in Amman at mtayseer@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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