Abu Dhabi Company Establishes Infrastructure Investment Fund In Jordan

2024-05-19 07:23:18

(MENAFN- Jordan News Agency)

Amman, May 19 (Petra) - The Ministry of Investment disclosed that the Abu Dhabi Developmental Holding Company (ADQ) has established an infrastructure investment fund company in Jordan, in accordance with the regulations outlined in the Jordanian Investment Fund Law.
This initiative aims to channel investments into various infrastructure and development projects in Jordan, with a targeted investment value of $5 billion.
In an official statement released on Monday, the ministry underscored the government's commitment to extending comprehensive support for the establishment of investment funds, particularly focusing on priority sectors crucial for economic growth and competitiveness.
The establishment of the investment fund company follows the signing of memorandums of understanding between Jordan and the United Arab Emirates (UAE) in the realms of investment and development. These agreements were formalized during His Majesty King Abdullah II's visit to Abu Dhabi in November 2023, fostering cooperation between the Jordanian Ministry of Investment, the UAE Ministry of Investment, and the Jordan Investment Fund.
ADQ, through the investment fund company, is slated to spearhead various investment projects in Jordan, including the development of a waste-to-energy conversion station, the operation and management of a versatile port facility in Aqaba, and the establishment of an internal railway network connecting mining zones with the Aqaba port.
Each project will be executed through dedicated subsidiary companies, adhering to the legal framework established by the Jordan Investment Fund Law and its associated regulations.
The Ministry highlighted that ADQ is currently evaluating additional projects for imminent implementation.

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