(MENAFN - Saudi Press Agency) style="font-family:Calibri">
Amman, February 11, 2019, SPA -- A memorandum of understanding has been signed between the Saudi-Jordan Investment Fund Company and the Aqaba Special Economic Zone Authority (ASEZA) to establish, develop, manage and operate a railway to connect the ports of Aqaba with the land port of Ma'an for 500 million Jordanian dinars.
The Saudi-Jordan Investment Fund Company is one of the fruits of cooperation between the Kingdom of Saudi Arabia and the Hashemite Kingdom of Jordan. It is one of the outputs of the Saudi-Jordanian Coordinating Council, which was established on 27 April 2016, and the memorandum of understanding in the field of investment promotion between the Public Investment Fund of Saudi Arabia and the Jordan Investment Fund of the Hashemite Kingdom of Jordan signed on 25 August 2016.
The Public Investment Fund of Saudi Arabia contributes 90% of the Saudi-Jordan Investment Fund Company, while all Jordanian banks account for 10% of the company's capital.
22:30 LOCAL TIME 19:30 GMT