CEO of Jordan Petroleum Refinery, Abdel-Kareem Al Alaween, expected that the fourth expansion project will be finished within 4-5 years after needed finance is provided.

Al Alaween estimated total cost of the project at $1 billion but he expected that it will rise to $1.8 billion if production capability increases through executing the Iraqi oil pipeline.

He added that the project of the Refinery expansion is necessary for the kingdom and for the company to meet the needs of the kingdom’s local market of oil derivatives.