The extraordinary general meeting of Jordan Electric Power Co. (JEPCO) approved a settlement agreement with the government over the franchise period.
Shareholders okayed obtaining a license for retail distribution and supply for 20 years at a total value of JOD 65 million, to be paid in installments over 13 years.
In addition, shareholders gave the go-ahead for the license issued by the Energy and Mineral Regulatory Commission related to the distribution of energy in the areas where the company operates currently, according to Al-Ghad newspaper.
The amounts shall be equally paid in annual installments over 13 years, with a grace period of three years.