UAE to build new railway network in Jordan

Vice President of the United Arab Emirates Mansour bin Zayed Al Nahyan and Jordanian Prime Minister Jaafar Hassan signed an agreement to create a modern railway network in the kingdom.

To this end, the establishment of the UAE-Jordan Railway Company was announced in the form of a joint venture between the Abu Dhabi sovereign wealth fund and Jordanian entities. The Jordanian side is represented by the Jordan Phosphate Mining Company, the Arab Potash Company, the Jordan Social Security Investment Fund and the Public Investment Management Company.

We are talking about the construction of 360 kilometers of routes between phosphate and potash deposits in the Dead Sea region and the port of Aqaba on the Red Sea. The route is designed for the annual transportation of up to 16 million tons of phosphates and potash. The project cost is estimated at $2.3 billion.