Jordan, UAE sign 4 agreements to launch USD2.3B railway investment project

(MENAFN) Jordan and the United Arab Emirates have signed four agreements to launch a USD2.3 billion railway investment project aimed at connecting Jordan's Aqaba port with the mining regions of Al-Shidiya and Ghor Al-Safi. This initiative is part of a larger package of investment projects, totaling approximately USD5.5 billion, which Jordan and the UAE signed at the end of 2023, during a meeting between King Abdullah II and UAE President Sheikh Mohammed bin Zayed Al Nahyan. The agreements mark a major step in strengthening the economic and strategic ties between the two nations.

At the signing ceremony, Jordanian Prime Minister Bisher Al-Khasawneh emphasized the importance of the agreements, which were signed in the presence of UAE Minister of Investment Mohammed Hassan Al-Suwaidi. He highlighted the deep, brotherly relations between Jordan and the UAE, noting that the USD2.3 billion investment reflects their extended strategic partnership. The project aims to create an integrated framework for cooperation in the railway sector, enhancing Jordan's transport infrastructure and facilitating the exchange of technical expertise in railway construction and operations.

Al-Khasawneh explained that the railway project will take five years to complete, with actual operations expected to begin in 2030. Over the next two years, through the end of 2025, detailed studies will be conducted on the railway routes and the logistical needs for handling phosphate and potash. The tendering process for construction is set to begin in early 2026, paving the way for the project's implementation.

Once the railway is operational, it is expected to significantly boost Jordan's logistical and export capabilities, particularly in phosphate and potash. The railway will initially handle around 16 million tons of these mining products, enhancing the country's export capacity and reinforcing its role in the global supply chain.

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