On 8 December 1920, Pinhas Rutenberg submitted a 60 page proposal to the British government, proposing to build 14 hydroelectric power stations along the Jordan River[4] On 21 September 1921, a concession agreement was signed between the British Government and Rutenberg granting him a monopoly over "utilization of such of the waters of the River Jordan and its basin including the Yarmuk River and all other affluents" and a right to "erect a power house near Jisr-el-Mujamyeh".[5] This agreement required Rutenberg to form a company with at least GBP1 million of capital within two years; such company was formed, named the Palestine Electric Corporation (PEC). The concession was then formalized on 5 March 1926 for a 70-year period and validated in Mandatory Palestine by the Electricity Concessions Ordinance 1927 and in the Emirate of Transjordan by the Electricity Concession Law, 1928.[6]