The Saudi Jordanian Investment Fund (SJIF) and Aqaba Special Economic Zone Authority (ASEZA) to build a rail network in Jordan connecting Aqaba and Maan.
The SJIF has signed a memorandum of understanding (MoU) with the ASEZA to invest more than $700m to build a rail network in Jordan. This rail network will connect Aqaba’s seaports to the future dry port of Maan Governorate.
The intended project will enhance Jordan’s transportation sector and its capabilities. The project would also facilitate transportation of cargo from and to Aqaba. It will also be a way to deliver Phosphate from the mines of Eshidiya to Aqaba Exports.
Moreover, it includes the asset of rolling stock, wagons and other associated equipment. It will be operating along a 195-Kilometre rail track.
ASEZA Chief Commissioner Nasser Shraideh said that the Aqaba-Maan railway and the Maan dry port “would reduce transportation costs and spur the development of the logistics ecosystem in southern Jordan, and could be the first step in the development of a national railway network”.
MoU, ASEZA and SJIF are in the process of conducting studies, such as, technical and feasibility studies before commencing with the project.
This project will be the first major infrastructure project to be established in Jordan by the Saudi Jordanian Investment Fund.
Not only will this project provide more efficient transportation solutions between Aqaba and Maan, it will also support growth and provide jobs in the communities of Maan and Aqaba.
There are evident intentions that SJIF will be expanding their investments into larger infrastructure projects in Jordan. To illustrate, in the healthcare sector, tourism, and information technology.