Economic modernization mega projects worth JD10b, says gov't

(File photo: Ameer Khalifeh/Jordan News)
AMMAN  — The government announced it would begin implementing mega ventures and partnerships with the private sector under the economic modernization executive program. These projects will come at a volume of more than JD10 billion.اضافة اعلان

Prime Minister Bisher Al-Khasawneh asked relevant ministries and entities to start implementation to meet the program's "ambitious" goals within the set timelines, the Jordan News Agency, Petra, reported. 

Deadlines and performance reviews of the project will also be conducted, he said, adding that they will be through an electronic achievement tracking system.

The executive program, said Khasawneh, is a national endeavor with "feasible and realistic goals". It is a roadmap for the national economy over the next 10 years, he added.

Cost division  The program's total cost is estimated at JD10.47 billion, of which JD10 million will be allocated for the management and operation of a multi-purpose port within the New Aqaba Port area. 

Around JD50 million will be allocated for managing and operating King Hussein International Airport in Aqaba, and JD290 million for establishing a medical university through the Saudi-Jordanian Fund. 

A green hydrogen and green ammonia production facility will also be launched and will cost JD4 billion. Meanwhile, the water desalination and conveyance project (The National Carrier) will cost an estimated JD3 billion.

 The executive program also incorporates a national railway network, the first phase of which is the Aqaba–Amman railway, at the cost of JD1.9 billion. The Jordan–Iraq electrical interconnection project will cost around JD30 million, and the Jordanian-Saudi electrical interconnection project JD39 million. 

The electrical interconnection capacity between Jordan and Egypt is also set to increase to 1,100 megawatts.  

Fifteen schools will also be created in partnership with the private sector at the value of JD46 million as part of the project. The Amman-Zarqa Bus Rapid Transit (BRT) project will also be established at the value of JD140 million. 

The King Hussein Crossing Bridge will have a new freight and passenger facility at the value of JD225 million. The Aqaba Container Terminal will be rehabilitated and developed at the cost of JD300 million. And road charge projects will cost JD40 million.

Improving global rank At the core of the economic modernization scheme are investment priorities and initiatives, foremost of which is improving Jordan's rank in global reports, said Khasawneh. 

This year began with action plans to improve the Kingdom's rank in the Global Competitiveness Report; the Regulatory Restrictiveness Index, which measures statutory restrictions on foreign direct investment; the global sustainable competitiveness index, and the women, business, and the law index. 

It also puts in place legislation on environmental protection and draws up the national investment strategy.

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