Amman, July 20 (Petra) – Minister of Transport and Labor Minister Nidal Qatamin said on Monday the Aqaba Port Railway Project is a mega strategic project that enhances Jordan's economic security and its standing as a regional transport and logistics hub.

The project is a key pillar within the economic modernization vision, and is in response to the rapid transformations in global trade routes and supply chains, the ministry said in a press release.

Qatamin spoke at a dialogue seminar held by the Center for Strategic Studies at the University of Jordan, titled: "The Aqaba Port Railway: Regional Connectivity, Security, and Economic Development in Jordan," in which a select group of academics, economic experts, and transport and logistics sector stakeholders took part.

He said Jordan has the potential to become a major logistics corridor linking the Arabian Gulf with the Levant and global markets.

The Kingdom's geographical location is attracting growing attention from its Gulf neighbors, which requires a modern infrastructure, particularly railway projects, to bolster Jordan as a regional hub and a link between production and consumption markets in the region, he said.

The minister said the railway project's impact extends beyond developing the transportation system as it constitutes a comprehensive economic and developmental project to reduce logistics costs, enhance the competitiveness of national exports, stimulate investment, create direct and indirect job opportunities, and support the industrial, mining, and agricultural sectors.

Furthermore, it will boost economic development in the governorates through which the project passes, he added.

Qatamin said the project is the nucleus of the national railway network, which will eventually connect various regions of the Kingdom and extend to neighboring countries, thus strengthening regional economic integration and boosting Jordan's status as a regional logistics hub.

Jordan, with a modern railway network linking the Port of Aqaba to production centers and local and regional markets, will give it a strategic edge and provide a more efficient and sustainable transportation system supporting long-term development, he pointed out.

The railway project, estimated to cost about $2.3 billion, is one of the pivotal ventures within the economic modernization vision. It runs for nearly 360 kilometers, connecting the Port of Aqaba to phosphate and potash production areas, with a capacity of up to 16 million tons annually, said the minister.

It is implemented through an equal Jordanian-Emirati partnership, with each party holding a 50% stake, he said, adding that Jordan's share is distributed among the Jordan Phosphate Mines Company, the Arab Potash Company, the Social Security Investment Fund, and the Government Investments Management Company.

//Petra//SS