UAE and Jordan Sign Investment Memorandum to Develop Strategic Railway Network

The UAE Ministry of Investment and Jordan’s Ministry of Investment signed an Investment Memorandum to enhance cooperation in the railway sector.

The agreement aims to share technical expertise and develop Jordan's railway network, marking a major step in regional infrastructure collaboration.

Etihad Rail, the UAE National Railway Network developer, signed agreements with Jordan's Ministry of Transport to build a 360 km railway. This network will link phosphate and potash mines to the Port of Aqaba, improving the transportation of 16 million tonnes of minerals annually. These agreements also include partnerships with Jordan Phosphate Mines Company and Arab Potash Company.

The $2.3 billion project, slated for completion by 2030, will boost Jordan's export capabilities and create jobs in logistics and mining sectors. New loading and unloading terminals will be constructed in Aqaba, Ghor Al Safi, and Shidiya, enhancing mineral handling.

Jordanian Prime Minister Dr. Bisher Al-Khasawneh highlighted the significance of this collaboration, noting the strong ties between Jordan and the UAE. This project follows a series of investment initiatives between the two nations, totaling $5.5 billion, and demonstrates their commitment to mutual growth and regional development.

Mohamed Hassan Alsuwaidi, UAE Minister of Investment, emphasized the project's alignment with the UAE’s vision for sustainable growth, while Etihad Rail’s CEO, Shadi Malak, highlighted the strategic importance of the railway connection in boosting economic cooperation between the two nations.

News Source: Emirates News Agency