AMMAN — The Greater Amman Municipality (GAM) and Khaled Bin Alwaleed Investment Group (KBW Investments) on Saturday signed an agreement to implement the Amman lighting project to replace 119,000 light bulbs with energy-saving LED units, which is expected to reduce street lighting costs by half.
Amman Mayor Aqel Biltaji and Saudi Prince Khaled Bin Alwaleed Bin Talal, who is the founder and owner of KBW Investments, signed the deal, the Jordan News Agency, Petra, reported.
The cost of the project stands at JD35.4 million, to be paid over eight years. Biltaji said the expected savings of such projects will allow GAM to allocate more money for developing infrastructure.
Prince Khaled said any project the group launches in the Kingdom reflects its responsibility towards Jordan and the level of relations between Amman and Riyadh.