IKEA-Kuwait invests in new USD-55-mln store in Jordan

AMMAN, June 5 (KUNA) -- The Kuwaiti company Al-Humaidhi Group celebrated here on Tuesday -- with a Jordanian firm -- laying down the foundation for the opening of another outlet of the Group's IKEA retail stores, at a cost of USD 55 million. The Group's chairman Saleh Al-Humaidhi and his counterpart at the Jordanian Union Company for Land Development Mirza Bulad signed the agreement for building the new IKEA Swedish giant furniture store. Among those attending today's foundation-laying ceremony were representative of the Jordanian prime minister and minister of public works Yahya Al-Kesbi, Kuwaiti ambassador to Jordan Hamad Al-Duaij and a number of Jordanian ministers and high-ranking officials. Al-Kesbi deemed the furniture store project an investment in the Jordanian labor market, as it will create at least 460 jobs. The new store, Saleh Al-Humaidhi, the Group's Chairman said, is part of his company's expansion plan in the region and is a clear testimony to Jordan's investment-friendly environment. IKEA is among the world's largest home furnishing retailers with stores in 41 countries, including Kuwait. (end) ab.ajs KUNA 051816 Jun 12NNNN