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The Abu Dhabi Development Holding Co (ADQ), one of the world’s largest sovereign wealth funds, has completed plans to invest nearly $5 billion in infrastructure and other projects in Jordan, according to an official statement.
ADQ intends to invest in such projects through 'The Investment Fund for Infrastructure in Jordan' which will be announced shortly, Jordan’s Investment Ministry said in a statement on Sunday.
The statement, published by Addustour and other local publications, said ADQ would create that company as per an agreement signed by Amman and Abu Dhabi during King Abdullah’s visit to the UAE in 2023.
“ADQ will invest $5 billion in infrastructure and other projects in Jordan....they include a waste-to-energy plant, the management of a multi-purpose port in Aqaba, the construction of a rail network linking Aqaba with other areas and the establishment of companies for each project,” the statement said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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