UAE and Jordan sign pacts for $2.3bn railway investment project

The UAE on Wednesday signed four agreements with Jordan for a $2.3 billion railway investment project that will link the port of Aqaba with the mining regions of Al Shidiya and Ghor es-Safi.
The project is part of the investment package worth approximately $5.5 billion that Jordan signed with the Emirates last year, the Jordan News Agency reported.
The project will initially start with transporting 16 million tonnes of phosphate and potash products, the report cited Jordanian Prime Minister Bisher Al Khasawneh as saying.
The studies on railway routes and handling requirements for potash and phosphate are expected to be completed between 2024 and the end of 2025, with the aim of submitting tenders for construction work in 2026.
It is expected to take up to five years for the railway project to become operational, he added.
More to follow …