Just called the company and confirmed the relevant interest ADS has in this project:
Bariq owns 50% of Jebel Sayid
Vertex owns 70% of Bariq
ie Vertex owns 35% of the Jebel Sayid project
ADS currently owns 25% of Vertex, ie 8.75% of this project
HOWEVER ADS has first, and last rights of refusal to acquire up to 100% of Vertex - IMO this is now going to be a certainty before March 31, 2007.
So in other words, ADS will eventually have 35% of this project.
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