Jordan showcases investment opportunities worth $20b in seven sectors

DEAD SEA — Jordan on Friday showcased available promising investment opportunities worth $20 billion. 

The announcement of the opportunities and priorities was made at the World Economic Forum (WEF) on the Middle East and North Africa inaugurated by His Majesty King Abdullah and attended by Her Majesty Queen Rania, HRH Crown Prince Hussein, regional and international political leaders and hundreds of business leaders and investors. 

The presentation was made during a special session titled “Jordan Relaunched: Advancing Growth and Development”, the key event in this year’s meeting. 

The investment opportunities are in the sectors of energy, transport, urban development, water, infrastructure, tourism and ICT.

The seven sectors represent the investment priorities for the Kingdom set to achieve economic and social prosperity. 

Energy

In the energy sector there are investment opportunities worth $9 billion, particularly in the renewable energy and energy efficiency fields. 

Among the projects listed as investment opportunities is the 973- kilometre Iraq-Jordan pipeline at a cost of $3 billion on the Jordanian side –– $2 billion for crude oil and $1 billion for liquefied natural gas (LNG). 

The pipeline aims at pumping one million barrels per day of crude oil from Iraq's Haditha to Jordan's port city of Aqaba and 138 million cubic feet of LNG per minute capacity. It also includes the construction of five pumping stations and a seven-million-barrel capacity storage tank in Aqaba. 

The project can be built on a build, operate and transfer (BOT) basis for 20 years with an execution period of five years.

Other large-scale projects announced include solar and wind power schemes, 200-megawatt (MW) wind farms in the north and east of Jordan and 700MW solar plants in the south and east. The cost of the investments is estimated at $1.5 billion. 

The $1.64 billion expansion project of the Jordan Refinery Petroleum Company was also among the opportunities showcased, in addition to the $150 million project for exploration of petrol and gas resources in several parts of the Kingdom, a $500 million project for the utilisation of shale gas and shale oil at Risha and Sarhan areas in the eastern desert. 

Other schemes include a $550 million uranium production facility in central Jordan and a $1.5 billion oil shale surface retorting in central and southern Jordan that focuses on electricity generation and oil production. 

Transport 

In the transport sector, 10 investment opportunities worth $2.54 billion were listed that include the Jordan Railway Project (JRP) package 1. It entails a 176km of single standard gauge track connecting Aqaba Port with Maan to cover a cargo volume of 30 million tonnes per year. The cost of the scheme is set at $615 million.  

JRP package 2, with an estimated cost of $653 million, involves 1,953km of single standard gauge track connecting Maan with Amman, while the third package seeks to construct a 253km of railway linking the Madounah logistic centre near Amman with Zarqa, estimated to cost $634 million. 

Other projects include Amman-Queen Alia International Airport tram at a cost of $100 million, Bethany and Marka airports development at a cost of $230 million. The facilities are planned to enable transfer of passengers and shipping of agricultural products from the Jordan Valley to international markets. 

The Amman-Zarqa bus rapid transit (BRT) operation worth $51 million, BRT Amman-Salt worth $237 million, municipal bus companies in Irbid, Salt and Zarqa worth $65 million, tram in the northern city of Irbid at a cost of $76 million and the BRT Sweileh-8th Circle in Amman at a cost of $75 million were also among the key investment priorities included in the list. 

Water 

The water sector has the potential of investments worth $1.23 billion to carry out the Red Sea-Dead Sea Water Conveyance Project (phase 1) at a cost of $950 million, renewable energy for water pumping ($120 million), mixed industrial wastewater treatment plant ($100 million), reuse of treated wastewater project ($40 million) and the performance-based non-revenue water reduction ($20 million). 

ICT 

Opportunities are available in the sector worth $175 million that include the national broadband network (NBN) in the northern part of the Kingdom at a cost of $48 million, NBN in the south ($44.5 million) and NBN in the central part of the country ($73 million), in addition to introducing electronic services at several government agencies worth nearly $10 million. 

Infrastructure 

A total of 12 investment opportunities worth $1.1 billion were presented during the event that include a $250 million solid waste-to-energy facility in the Ghabawi area in Amman, Amman BRT operation ($70 million), Amman BRT ticketing and information system ($20 million), King Abdullah I Park in Amman at a cost of $50 million. The park includes an integrated hotel and conference facilities. 

Other projects include an automated car parking facility at a cost of $5 million, development of the middle port in Aqaba ($155 million), sports camps city in Aqaba ($42 million), a miscellaneous liquid terminal in Aqaba ($28 million), customs yard for containers in Aqaba ($28 million), Aqaba new port phase 2 expansion ($127 million), Aqaba railway project ($240 million) and King Hussein International Airport development ($85 million). 

Tourism 

A total of $793 million in investment opportunities are available in the Kingdom’s tourism sector. 

Projects include rehabilitation of the Philadelphia Boutique Hotel worth $20 million, Yacht Club expansion in Aqaba at a cost of $28 million, small-to-medium sized investments in the northern corniche district in in the Dead Sea ($100 million), resort and spa at convention centre in the Dead Sea ($85 million), medium-sized investment at the Dead Sea’s Amman Beach District ($85 million), investments in the Port District in the Dead Sea area ($50 million), medium-sized investments such as hotel and mixed-use activities in the Convention Centre district - Dead Sea ($75 million), medium development opportunities at Northern Hills - Dead Sea ($150 million) and a resort and spa at the Dead Sea’s southern Zara District worth $200 million. 

Urban development 

Investments in the sector worth $2.68 billion include projects of investment strip - Abdoun Corridor at a cost $450 million, rehabilitation of Jubeiha Amusement Park ($50 million) and a new Amman slaughterhouse ($43 million). 

Investment opportunities in urban development are also available in the southern port city of Aqaba as there are plans to construct the north business district at a cost of $1.13 billion, commercial, residential and tourist facilities called the ANREPCO North Complex worth $5.5 billion, a middle- to upper-class green residential area to accommodate 6,500 inhabitants in over 1,000 apartments at a cost of $280 million. 

In Aqaba, there are also opportunities to invest in the Kasabat Al Nahas residence at a cost of $212 million and the south labour village worth $14 million.