AMMAN: The Ministry of Finance stated stated that Jordanian government and the Saudi Development Fund Sunday signed a funding grant agreement worth $30 million to finance infrastructure project for new industrial cities.
These industrial cities will be established in the governorates of Tafila, Madaba, Jerash and Balqa. The Jordan Industrial Estates Corporation (JIEC) intends to implement and finance these through the fund and the company’s self-revenue.
A JIEC statement said the establishment of the cities is part of the company’s future plan, which was announced recently, and that it aims to set up industrial cities in a number of the Kingdom’s governorates, in accordance with the developmental need of each governorate.JIEC’s chief executive Ali Madadha said the grant comes in the framework of joint cooperation between the governments of Jordan and Saudi Arabia, as it is a part of the second phase of the Saudi contribution to the Gulf grant.
The project is expected to be completed by the end of 2017, Madadha added, noting that the JIEC will begin implementing these projects during the last quarter of 2015. According to Madadha, the agreement will provide employment opportunities for Jordanians in the construction sector during the implementation stages, thus reducing poverty and unemployment in the targeted governorates.
