ADQ establishes infrastructure investment fund in Jordan

AMMAN — The Ministry of Investment on Sunday announced that Abu Dhabi Development Holding Company (ADQ) has completed the establishment of the infrastructure investment fund company in Jordan, in accordance with the provisions of the Jordanian Investment Fund Law.

The company's purpose is to invest in several infrastructure and development projects with a total value of $5 billion, the Jordan News Agency, Petra, reported.

The ministry said that the establishment of the company is part of the government’s efforts to provide full support to create investment funds to invest in various high-priority and highly competitive economic and developmental sectors.

This initiative is also in line with the memoranda understanding signed in the investment and development fields with the United Arab Emirates during His Majesty King Abdullah's visit to Abu Dhabi in November 2023, which were signed between the Ministry of Investment and the Emirati ministry of investment, as well as between the Jordanian Investment Fund and ADQ.

The ministry added that ADQ will implement several investment projects in Jordan through the company.

These projects include the development of a waste-to-energy conversion plant, the operation and management of a multipurpose port in Aqaba, and a project to establish a railway within the Kingdom to connect mining areas with the Port of Aqaba.

Each project will be managed by establishing subsidiary companies, and all issues related to these projects will be regulated according to the provisions of the Jordanian Investment Fund Law and its regulations.

The ministry added that ADQ is currently considering several additional projects to be implemented in the near future.