Jordan, UAE conclude USD2.3B rail deal to boost mining, port connectivity
(MENAFN) Jordan and the United Arab Emirates have formalized a significant investment in infrastructure with the signing of four agreements valued at USD2.3 billion. This ambitious railway project aims to create a critical transport link between the port of Aqaba and the mining regions of Al-Shidiya and Ghor Al-Safi. The agreements are part of a broader investment package valued at USD5.5 billion, which Jordan and the UAE agreed upon late last year. Jordanian Prime Minister Bisher Al-Khasawneh, who attended the signing ceremony, highlighted the strategic importance of this venture, emphasizing how it underscores the deep-rooted fraternal ties between the two nations.
Al-Khasawneh elaborated on the scope of the agreements, noting that they are designed to enhance connectivity between the phosphate port and the Aqaba Industrial Port, extending to Wadi Al-Yutum. The project includes two main routes: one extending towards Al-Shidiya and another leading to Ghor Al-Safi, traversing Wadi Araba. This infrastructure will connect major mining sites with the industrial and phosphate ports, thus improving logistical and export efficiencies. Additionally, it is expected to generate both direct and indirect employment opportunities across various sectors, including transportation, railways, and mining.
The project will be developed under the Jordan Investment Fund Law, and is set to establish a comprehensive cooperative framework in the railway sector. This includes the transfer of technical expertise and skills related to railway construction and operation, fostering enhanced capabilities in these fields. This initiative reflects Jordan’s commitment to advancing its infrastructure and economic growth through strategic international partnerships.
MENAFN05092024000045015682ID1108640193
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.