Finance
The job is being established by the Jordan-UAE Railway Company through a joint financial investment of around US$ 2.5 billion and consists of the advancement of a 403-kilometre rail network
Aqaba, Jordan: His Majesty King Abdullah II bin Al Hussein, King of the Hashemite Kingdom of Jordan, and His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, have actually seen the groundbreaking event for the Aqaba-Al-Shidiyeh-Maan Railway Project in Aqaba, Hashemite Kingdom of Jordan.
The task is being established by the Jordan-UAE Railway Company through a joint UAE-Jordanian financial investment of roughly US$ 2.5 billion and consists of the advancement of a 403-kilometre rail network.
This action shows the vision and instructions of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Majesty King Abdullah II bin Al Hussein, King of the Hashemite Kingdom of Jordan, targeted at combining a sustainable tactical collaboration in between the 2 nations, based on joint action and boosted structures for cooperation and coordination, serving the interests of the 2 countries’ individuals.
This tactical job, the biggest of its kind in the train sector in the Hashemite Kingdom of Jordan, intends to link the city of Aqaba with essential mining and production websites and the Maan Logistics Zone, offering an integrated system for carrying bulk freight and containers in between ports, production centres and inland logistics centers, adding to alleviating pressure on the roadway network and supporting the shift towards a more effective and sustainable transportation system.
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan verified the strength and depth of the fraternal relations in between the United Arab Emirates and the Hashemite Kingdom of Jordan, in addition to the close cooperation and continued coordination in between the 2 countries throughout different fields, under the management of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and His Majesty King Abdullah II bin Al Hussein, King of the Hashemite Kingdom of Jordan.
He kept in mind that the launch of the Aqaba-Al-Shidiyeh-Maan Railway Project shows the 2 nations’ dedication to more enhancing their bilateral collaboration through the launch of tactical tasks that support shared interests and open brand-new horizons for cooperation throughout essential sectors, satisfying the goals of the 2 countries’ individuals and adding to their success, development and advancement throughout different fields.
The task works consist of the building of train tracks, about 55 bridges, 6 tunnels and associated engineering structures. The network is anticipated to carry roughly 16 million tonnes of phosphate and potash each year, improving the motion of mineral resources from production websites to the ports of Aqaba and making it possible for Jordanian exports to reach local and international markets with higher performance and competitiveness.
The task’s financial effect will extend throughout the numerous sectors and areas it serves. It is anticipated to develop around 5,000 tasks in southern Jordan, while lowering phosphate and potash transport expenses by around US$ 40 million yearly, consequently boosting the competitiveness of Jordan’s mining sector.
The task will likewise develop wider chances for regional business and the economic sector throughout engineering, building, upkeep, logistics, innovation and supporting markets, while adding to increased financial activity and supporting advancement throughout the southern governorates of the Kingdom.
The Jordan-UAE Railway Company is accountable for establishing the task. The business is collectively owned by L’IMAD Holding Company on the UAE side, and the Jordan Phosphate Mines Company, the Government Investments Management Company, the Social Security Investment Fund and the Arab Potash Company on the Jordanian side.
Dr Mohammad Thneibat, Chairman of the Jordan-UAE Railway Company, stated: “Today’s groundbreaking marks the beginning of a new chapter in the Jordan-UAE partnership and reflects the vision of the leadership of both countries to translate cooperation and mutual trust into development and investment projects with tangible impact.
“The significance of this job depends on its capability to link production centres with the ports of Aqaba and local and worldwide markets, boost the performance of the transportation and logistics community, reinforce the competitiveness of nationwide exports and produce long-lasting worth for the economy and society, consequently enhancing Jordan’s position in local and global trade.”
Shadi Malak, Vice Chairman of the Jordan-UAE Railway Company and Chief Executive Officer of the Ports and Logistics Platform at L’IMAD Holding, stated: “The commencement of implementation of the Aqaba-Al-Shidiyeh-Maan Railway Project today reflects the depth of the investment partnership between the United Arab Emirates and the Hashemite Kingdom of Jordan.
This progress is supported by the guidance and follow-up of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and reflects His Highness’ commitment to advancing strategic projects and strengthening high-impact partnerships between the two brotherly countries across key sectors.
“We are giving this task the substantial proficiency Etihad Rail, part of L’IMAD Holding Company, has actually collected in the advancement and operation of train networks, and we are working carefully with our partners in Jordan to provide a contemporary and reputable rail system that supports the Kingdom’s financial and advancement concerns.”
The event was participated in by Sheikh Khalifa bin Tahnoon bin Mohammed Al Nahyan, Chairman of the Abu Dhabi Crown Prince Court; Jassem Bu Ataba Al Zaabi, Chairman of the Department of Finance – Abu Dhabi and Managing Director and Group CEO of L’IMAD; Humaid Obaid Abushibs, Chairman of the Abu Dhabi Accountability Authority; Saif Saeed Ghobash, Secretary-General of the Abu Dhabi Executive Council and Chairman of the Office of the Crown Prince; Maryam Eid AlMheiri, Chairperson of Abu Dhabi Media Office and Advisor of Strategic Relations at the Crown Prince Court; Sultan Mohammed Saeed Al Shamsi, UAE Ambassador to the Hashemite Kingdom of Jordan; Shadi Malak, Vice Chairman of the Jordan-UAE Railway Company and CEO of the Ports and Logistics Platform at L’IMAD Holding; together with a number of authorities and agents of the business accountable for executing the job from both nations.
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