The Aqaba Port Railway Project matters not only because of its scale, but because it reflects a wider shift in Jordan’s economy, from planning to execution.
With an estimated investment of $2.3 billion, the project will create a 360km railway linking the phosphate and potash production areas of Shidiya and Ghor Al-Safi to Aqaba’s Industrial Port. It is expected to move about 16 million tonnes annually, significantly cutting transport costs and enhancing export efficiency.
The project’s structure is just as important. It is being implemented through a 50:50 Jordanian-Emirati joint venture between UAE-based L’imad Holding and Jordanian sovereign and industrial partners. The partnership reflects the strength of Jordanian-Emirati economic co-operation and a shared commitment to long-term, strategic investment. By combining Jordanian assets with Emirati investment and expertise, the project sets a strong foundation for a major regional infrastructure platform.
Broader economic model
The project points to a broader economic model now taking shape. Under the 2026–2029 executive programme of the Economic Modernisation Vision, the Jordanian government has identified 392 projects. These will be financed in partnership with the private sector, supported by investments of about 10 billion Jordanian dinars ($14.1 billion). The emphasis is increasingly on larger, bankable projects in water, transport, energy and infrastructure that welcome cross-border investment.
That approach is visible elsewhere. The National Water Conveyance Project remains central to Jordan’s long-term water security, while Amra City is being positioned as a long-horizon urban and investment platform rather than a conventional real estate project. Official estimates suggest it could activate more than 50 economic sectors, giving it significance well beyond housing.
The macroeconomic picture provides this story with added credibility. In its latest report, the International Monetary Fund noted that Jordan’s economy grew by 2.8 per cent in 2025, with momentum strengthening in early 2026, while inflation remained below 2 per cent. While these are not headline-grabbing numbers by some emerging market standards, they matter in a region where stability itself has become an economic asset. For our international and regional partners, this predictability is a critical anchor for long-term capital.
From vision to reality
Domestic indicators are equally encouraging. Company registrations rose in the first quarter of 2026 and strong corporate earnings on the Amman Stock Exchange suggest that private sector activity is firming. This does not mean Jordan is insulated from regional volatility, but it does suggest the economy is entering this period with more depth, stronger execution and a clearer investment pipeline than many expected.
This is what “from vision to reality” means in economic terms. It is not about the announcement of strategies, but about projects being structured, financed and moved forward. The Aqaba Port Railway Project is one of the clearest examples of this shift. It is more than just a railway, it is part of a wider effort to make Jordan more competitive, more connected and better positioned for long-term, investment-led growth in partnership with regional investors and strategic partners.
Muhannad Shehadeh is Jordan’s Minister of State for Economic Affairs and head of the government economic team
