Middle East Complex

completed

Company: Middle East Complex for Engineering, Electronics, & Heavy Industries (the company, or MEC) established in 1994 as a public shareholding company, is the leader in Jordan for electronics and household appliances. MEC exports 72% of its output to countries in the Middle East region. MEC currently employs approximately 650 people.Project Description: The proposed $38.5 million project is: (i) to relocate MEC’s existing production facilities for the purpose of modernizing its assembly lines and increasing efficiencies; (ii) to expand by establishing a joint venture with the Haier Group of China; and (iii) to restructure up to $11.0 million of MEC’s short-term debt. The expansion project will focus on producing household products, which will primarily be sold in regional markets.