Manaseer Group Media Statement

Manaseer Group Media Statement

2018-08-26

Manaseer Group would like to confirm that the information circulated via news websites and social media platforms related to the Group - which is owned by businessman Eng. Ziad Al Manaseer - transferring its entire majority shares in four companies to an undisclosed entity is completely false and unfounded.

In this context, Manaseer Group emphasizes that it has not sold any shares in its four owned companies, namely: Afaq Energy Co., United Iron and Steel Manufacturing Co. P.L.C., Afaq Holding for Investment and Real Estate Development P.L.C, and Injaz for Development and Investment Co. In tandem, Manaseer Group reaffirms its financial stability and strength, indicating that its investment value in the Kingdom stands at USD 3.5 billion.

Furthermore, Manaseer Group states that it is in the process of implementing carefully studied strategic expansion plans and bolstering investment within the Jordanian market in order to actively contribute to supporting the national economy and generating employment. Accordingly, Manaseer Group is preparing for a number projects that include an exceptional chemical industrial complex in Aqaba, the third of its kind worldwide; a copper factory currently under study and consideration; as well as a 150 MW power plant that will create significant job opportunities throughout the Kingdom.