MoU signed to enable Saudi Jordanian Investment Fund assess investment opportunity related to the National Railway Network Project

MoU signed to enable Saudi Jordanian Investment Fund assess investment opportunity related to the National Railway Network Project

Amman, Jordan – The Jordanian Government, represented by the Jordan Investment Fund, and the Saudi Jordanian Investment Fund (SJIF) signed a memorandum of understanding (MoU) that seeks to enable SJIF to explore the opportunity to invest in the National Railway Network Project.

The project entails establishing a 418 kilometers, standard-gauge railway track connecting the Aqaba Container Terminal with the Madouna dry port in southern Amman, for the shipment of containers, phosphate, grain, and automobiles. The National Railway Network Project is one of the priority projects included in the Jordan Investment Fund Law number (16) for 2016.

The MoU is the first step in a multi-pillar investment process to assess this investment opportunity, which includes consultations and discussions with local and international investors.

The MoU was signed by the Director of the Jordan Investment Fund Zaher Qatarneh, and the CEO of the Saudi Jordanian Investment Fund Omar Alwir.

Director of the Jordan Investment Fund Zaher Qatarneh expressed his appreciation for SJIF for its continuous interest in key infrastructure projects in the Kingdom, and for prioritizing projects that are of key importance to the Jordanian government, stressing that the National Railway Project is a government priority due to its impact on the transport sector and sustainable