MOU signed for US$700 million rail and port PPP in Jordan
The Saudi Jordanian Investment Fund (SJIF) and the Aqaba Special Economic Zone Authority (ASEZA) signed a memorandum of understanding (MOU) to establish a railway connecting Aqaba’s seaports to a dry port that will be constructed in Ma’an, forming the first phase of Jordan’s national railway network. As SJIF’s first major investment in Jordan, the Aqaba-Ma’an railway and the Ma’an dry port project is planned to enhance Jordan’s transportation sector and its capabilities in logistics services.
The MOU outlines the form of cooperation between SJIF and ASEZA to advance the railway and dry port project, which includes completing thorough technical and feasibility studies. Upon completion of the studies, SJIF and ASEZA would commence project development.
The JOD 500 million project encompasses the following components: constructing a new railway line inside the city of Aqaba connecting the southern seaport and container terminal with the existing line, renovating the existing railway line connecting the city of Aqaba to Ma’an, procuring new rolling stock, wagons, and other equipment, and constructing a dry port in Ma’an on four million square meters of land. Upon completion, the railway will operate along a 195-kilometer rail track, transporting cargo containers from and to Aqaba as well as phosphate from the mines in Shidiya to Aqaba for export.