/24-7PressRelease/ - AMMAN, JORDAN, April 04, 2009 - This partnership was launched with a joint development agreement signed between both parties on March 13th, 2009. Through the agreement signed, Salam International Transport and Trading Co PLC, in partnership with Al Jaffali Group, will be constructing a Tank Farm in the capacity of 50,000 metric tons to store chemicals, liquids and other oil products. A piece of land was chosen for this project, which will be constructed at a prime location at the southern area of the Port of Aqaba, near the Chemicals terminal and Crude Tankers. This project is being implemented with an investment worth JD 20 million, and initial works have already started, anticipating the Farm will be operational before the end of this year 2009. Through this joint venture, Jaffali Group is solidifying its position as a leading market player working across the region in fields relevant to manufacturing, engineering construction, oil and gas distribution and services. The company opted to locate this particular project in Aqaba in keeping with its aims to expand its operations regionally while making the portal city the hub of its expansion plans. The city of Aqaba has been chosen as the prime location for this purpose based upon its strategic geographical location and its accessibility. On this occasion, founder of Salam International Transport and Trading Mr. Ahmad Armoush expressed sentiments of optimism in regards to the agreement signed. "We anticipate that this project will be a great success, as it will help us further expand business prospects for both parties involved. Through our partnership with Al Jaffali Group we can now work together to cater to the ever increasing regional market demands. The political stability and inviting investment environments that Jordan enjoys are both factors that make it a hub for regional transportation and business expansions." he said. From his end, General Manager of Salam International, Mr. Tarek Dajani added that the company has always been keen on forming large-scale partnerships with investors from across the region. "Jaffali Group has played a major role in the development of the Saudi Arabian market. It has introduced many new quality products, as well as innovative services and advanced technologies to the country and the region at large. The group constantly seeks to broaden its market reach and we on our part are proud to be working side by side with it towards the common goal of positively contributing towards the economic growth of Jordan and the region at large", he said. It is worth mentioning that, Salam International Plc (listed in ASE - symbol SITT) was founded, in the year 1997. It specializes in shipping, land cargo transportation, real estate development and offers investment solutions to local and regional markets. The size of its direct capital investments by the end of the year 2007 reached a total of JD 50 million; and it works through a number of affiliates and local and regional partners with a total capitalization exceeding JD 250 million. http://www.sittcogroup.com

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