Javasript is currently not supported/disabled by this browser. Please enable JavaScript for full functionality.
Amman 18/11/2007 –The Social security Investment Unit announced Sunday November 18th the purchase of 9% of Central Electricity Generating Company (CEGCO), in a deal valued at USD million.
The announcement took place at a signing ceremony held at the Social Security Corporation and was attended by representatives of the Ministry of Energy, the Ministry of Finance and the Executive Privatization Commission.
The transaction gives The Social Security Investment Unit 9% stake; the government of Jordan will retain 40% and the remaining 51% shares were purchased by "ENARA" Energy Arabia in September 2007.
The success of this privatization process, carried out through an international competitive bid, reflects the high credibility of the Jordanian privatization program on different local, Arab and international levels. It also highlights the importance of the program’s role in the enhancement of public-private partnerships.
The related agreements were signed to officially complete CEGCO’s privatization. A shareholders agreement and a share acquisition agreement were signed by H.E. Hamad Kassabah, Minister of Finance on behalf of the Jordanian Government and H.E Mufleh Akel Chairman of Social Security Investment Unit.
An Implementation Agreement between SSIU and the Jordanian government represented by the Minister of Energy and Mineral Resources, head of the project’s Steering Committee was also signed.
Mr. Mufleh Akel said: "The Social Security Investment Unit ( SSIU) is proud to participate in what is considered the first privatization initiative in the electricity sector in Jordan.
The privatization of CEGCO is a fundamental part of the privatization program undertaken by the government."
He added : "SSIU is keen on participating in projects that enhance economic growth and offer job opportunities to Jordanians. We will concentrate on projects that have direct economic impact on Jordanians such as Energy , Water , transportation and real estate.
It is worth mentioning here, that SSIU's assets reached 4.4 billion JD in comparison with 3.7 billion JD on December 2006.
The Social Security Corporation (SSC) is a major investor in the tourism sector. Geographically, its portfolio covers most parts of the Kingdom through direct and indirect investments.
SSIF invests in the energy sector through strategic holdings in electricity generation and distribution companies, in addition to renewable energy projects
Al Daman for Development Zones Company (DDC) was established in 2009 as a private shareholding company fully owned by the Social Security Corporation. DDC is the investment arm of the Investment Fund for infrastructure development, services and marketing for the King Hussein Bin Talal Development Area in Al Mafraq and the Irbid Development Area
The value of the equity portfolio amounted to around JD 2,699.6 million as at 31/03/2025
The portfolio consists of money market instruments with maturity dates that do not exceed one year, such as deposits, treasury bills, repurchase agreements, certificates of deposit and current accounts.
The Fund invests in medium and long term loans through direct lending to the Jordanian Government and its public institutions, and also by participating in syndicated loans to companies for a period that is not less than one year.
In September 2020, SSIF established a wholly owned company that will launch an agricultural project in the south on an area of 30,000 dunums with a total investment of JD 13 million