AMMAN — Minister of Transport and Labour Minister Nidal Qatamin said that the Aqaba Port Railway Project is a mega strategic project that enhances Jordan's economic security and its position as a regional transport and logistics hub, during a seminar held by the Centre for Strategic Studies at the University of Jordan

 

The seminar was entitled with "The Aqaba Port Railway: Regional Connectivity, Security and Economic Development in Jordan," and was attended by a selected group of academics, economic experts, and transport and logistics sector stakeholders, the Jordan News Agency, Petra, reported.

 

During the seminar, the minister stressed that the project is a "key" pillar within the economic modernisation vision (EMV), and is in response to the rapid transformations in global trade routes and supply chains, the ministry said.

 

He said Jordan has the potential to become a major logistics corridor linking the Arabian Gulf with the Levant and global markets. Its geographical location is attracting attention from its Gulf neighbours, which requires a modern infrastructure, particularly railway projects, to link between production and consumption markets in the region.

 

Qatamin added the railway project's impact extends beyond developing the transportation system as it constitutes a comprehensive economic and developmental project to reduce logistics costs, enhance the competitiveness of national exports, stimulate investment, create direct and indirect job opportunities, and support the industrial, mining and agricultural sectors.

 

Furthermore, it will boost economic development in the governorates through which the project passes, he said.

 

Qatamin said the project is the nucleus of the national railway network, which will eventually connect various regions of the Kingdom and extend to neighbouring countries, thus strengthening regional economic integration and boosting Jordan's status as a regional logistics hub.

 

Jordan, with a modern railway network linking the Port of Aqaba to production centres and local and regional markets, will give it a strategic edge and provide a more efficient and sustainable transportation system supporting long-term development, he pointed out.

 

The railway project, estimated to cost about $2.3 billion, is one of the pivotal ventures within the EMV. It runs for nearly 360 kilometres, connecting the Port of Aqaba to phosphate and potash production areas, with a capacity of up to 16 million tonnes annually, said the minister.

 

It is implemented through an equal Jordanian-Emirati partnership, with each party holding a 50 per cent stake, he said, adding that Jordan's share is distributed among the Jordan Phosphate Mines Company, the Arab Potash Company, the Social Security Investment Fund, and the Government Investments Management Company, Petra reported.