A Jordanian-Kuwaiti investment group was launched at the conclusion of the Second Gulf Forum in Amman on Wednesday.

The new group was established with a total capital of $150m and has commenced work with projects estimated at $50m. Sources from the group said the new group is specialized in producing industrial and medical gases, establishing pharmaceutical research and development centers and trading in medical equipment and appliances.

President of the group Said al-Jabari said the group plans to set up a number of industrial firms making use of the favorable investment climate in Jordan. The group has already established industrial projects about a year ago with an initially estimated at $50 million. They include Rum for Industrial Gases, Al Qastal Company for Construction Industries, Abjar Company for Housing, Al Jadidah for Medical Equipment Technologies, Rum Company for Research and Scientific Development, Hotel Services Company and Tourist Services Company.