Jordan-UAE railway joint venture holds inaugural board meeting, elects Thneibat as chairman
Amman, May 5 (Petra) -- The UAE-Jordanian Railway Company held its first constituent meeting on Tuesday to finalize the foundational and administrative frameworks for a landmark $2.3 billion logistics project.
During the session, Mohammad Thneibat, Chairman of the Jordan Phosphate Mines Company (JPMC), was elected as the Chairman of the Board of Directors for the new joint venture. The board also moved to initiate formal registration procedures for the company in accordance with legal requirements.
Thneibat highlighted the strategic depth of the fraternal relations between Jordan and the United Arab Emirates, noting that the partnership is a direct result of the vision established by the leadership of both nations to foster multi-sectoral development.
The Chairman expressed his appreciation for the Etihad Rail team, as well as the legal and technical committees, whose combined efforts were instrumental in bringing the cross-border infrastructure project to fruition.
The railway project is a 50-50 partnership between Jordanian and Emirati entities. The Jordanian stake is represented by the Jordan Phosphate Mines Company, the Arab Potash Company, the Government Investments Management Company, and the Social Security Investment Fund. The United Arab Emirates is represented by L'Imad Holding, an investment platform linked to the Abu Dhabi government.
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The initiative involves the construction of a 360-kilometer railway network designed to link phosphate and potash mines directly to the Industrial Port in Aqaba. The network will consist of two primary tracks serving key production hubs in the Shidiya and Ghor al-Safi regions.
Once operational, the railway is expected to transport approximately 16 million tonnes of minerals annually, comprising 13 million tonnes of phosphate and 2.6 million tonnes of potash. Officials expect the project to significantly bolster Jordan's export capacity and enhance the global competitiveness of the Kingdom's mining sector by streamlining logistics and reducing transport costs.
//Petra// AF
