​​​​​​Amman, April 21 (Petra) – Prime Minister Jafar Hassan announced that the government has completed the key stages required to launch and implement two of Jordan's largest strategic projects: the National Water Carrier Project and the Aqaba Port Railway Project.

During a meeting on Tuesday at the Prime Ministry with experts, journalists and economic writers, Hassan said the government is advancing major national projects that have been under study for decades, despite regional challenges.

He described the initiatives as representing "the largest level of foreign investment in the Kingdom's history." He said that both projects would enhance Jordan's economic resilience and are the result of sustained efforts and direct guidance from His Majesty King Abdullah II and His Royal Highness Crown Prince Hussein bin Abdullah II.

National Water Carrier Project Hassan described the National Water Carrier Project as a cornerstone of Jordan's water security strategy and a key step toward self-reliance. He said that international support, along with Jordan's global partnerships, played a critical role in reaching the current implementation phase.

The project would be accompanied by measures to reduce water loss, improve consumption efficiency and introduce advanced conservation technologies. It is expected to stimulate growth across multiple sectors.

The Prime Minister announced that the final technical and legal agreement has been signed with the French investment company Meridiam, paving the way for financial closure by early July and implementation to begin next summer.

The project's capital cost is estimated at $4.3 billion, with total costs, including financing, reaching approximately $5.8 billion.

He said that after 16 months of negotiations, the government secured improved financing terms, reduced costs and enhanced technical specifications.

The price of water has been reduced from around $3 per cubic meter in 2024 to approximately $2.7, generating projected savings of $2.5 billion over 30 years. Discussions are ongoing to finalise inflation adjustments.

The government will contribute $722 million during the implementation phase the largest single capital allocation in the state budget while a consortium of Jordanian banks, led by the Housing Bank, will provide up to $1.1 billion.

The Social Security Investment Fund will hold a 15% stake alongside Meridiam.

Hassan added that training programmes are already underway to prepare local talent, with the project expected to generate indirect employment opportunities across sectors.

Aqaba Port Railway Project Turning to the Aqaba Port Railway Project, Hassan said the executive agreement signed last week with the United Arab Emirates reflects strong bilateral ties and builds on a $5.5 billion joint investment agreement signed in late 2023.

He noted that the project originated under the previous government, which signed a memorandum of understanding in 2024, and will be implemented over the next five years as part of the economic modernisation vision.

Construction is expected to begin after financial closure, with the foundation stone to be laid early next year.

The project includes a 42-kilometer railway link connecting Al Shidiyah to the Ma’an Development Zone, as well as plans for a dry port in Ma'an to serve as a logistics and industrial hub.

Hassan said the railway will form the backbone of a broader regional network, linking Aqaba to Mediterranean ports via Syria and Turkey and extending connections to Saudi Arabia and Gulf Cooperation Council countries.

He noted ongoing coordination with regional partners to enhance cross-border connectivity.

Broader Economic Impact The Prime Minister discussed progress in public transport, including the expansion of inter-governorate transport services and the Bus Rapid Transit system to Balqa and Madaba, with further projects expected in 2026.

He said key economic indicators including growth, exports and financial market performance demonstrate the resilience of Jordan's economy, supported by stable fiscal and monetary policies.

International Monetary Fund reports and credit rating agencies, he noted, have affirmed the soundness of these policies.

Hassan called for translating these indicators into tangible investment and job creation.

Government Officials' Remarks Minister of Government Communication Mohammad Momani described the signing of the water carrier agreement as a "historic milestone," noting it will significantly improve water availability.

He explained that while the government will purchase water at an estimated cost of JD.190 per cubic meter, it will be sold to people at subsidised rates starting from JD.80.

The Water Authority will absorb the difference, which may increase its debt in the short term but is expected to decline over time with economic growth and improved efficiency.

Minister of Water and Irrigation Raed Abu Al Saud said the project will supply 300 million cubic meters of water annually, reinforcing Jordan's water security.

He described it as one of the largest desalination and water conveyance projects globally, spanning 450 kilometers.

Minister of State for Economic Affairs Muhannad Shehadeh said the projects reflect the success of Jordan's economic model and modernisation vision, strengthening the Kingdom's regional and global standing.

Minister of Investment Tariq Abu Ghazaleh noted that foreign investment reached $2 billion in 2025, a 25% increase year-on-year, with new investment opportunities worth $5 billion expected later in 2026.

Minister of Transport Nidal Qatamin highlighted the railway's role in strengthening supply chains, reducing transport costs and positioning Jordan as a regional logistics hub.

Minister of Justice Bassam Talhouni said the water project agreement ensures balanced obligations among all parties.

Meridiam CEO Thierry Déau expressed pride in participating in the project, describing it as one of the world's largest and most technically complex desalination initiatives.

He noted that contributions from multiple funding institutions covering about 25% of total financing helped reduce costs and improve specifications.

//Petra// AK