The Jordanian government has extended the financial closure deadline for the light railway project between Amman and Zarqa for another four months due to the impact of the global financial crisis, local daily The Jordan Times reported on Thursday.
The decision was taken upon a request by the contractor and funding parties so as to give the consortium enough time to complete a study to determine the impact of the global financial crisis on the plan, Jameel Ali, director general of the Public Transport Regulatory Commission, was quoted as saying.
This is the second funds closure extension in one year granted to the Jordanian-Kuwaiti Company, the contractor selected to implement the project.
The first extension was released in late August, as consortium claimed that it was unable to fully meet the financial closure by Aug. 31 due to delay in finalizing agreements with lenders. The government then set the deadline for the financial closure on Nov.30.
Under the multi-million-dollars railway deal, a Kuwaiti-Spanish consortium will put to service a commuter train that runs on a dual-track railway from Zarqa to Amman.
The Jordanian-Kuwaiti company is the second bidder that qualified for the project and was entrusted with carrying out the scheme, after the concerned authorities terminated the agreement with the original bid winner, a Pakistani-Chinese-Jordanian consortium.
Source:Xinhua
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