Abu Dhabi Ports Group has announced a 30-year concession agreement with Aqaba Development Company for the management and operation of the multi-purpose Aqaba Port, the only port in Jordan designated for handling general cargo. This investment marks a significant initiative aimed at enhancing the logistical infrastructure of the coastal city of Aqaba.
Under the terms of the agreement, a joint venture will be established for the management and operation of the port, with Abu Dhabi Ports Group holding a 70% stake, while Aqaba Development Company will hold the remaining 30%.
The agreement mandates that Abu Dhabi Ports Group invest a total of 141 million dirhams into the joint project, in addition to leveraging its extensive operational expertise to develop and operate the port. The operational activities at the port are anticipated to commence officially in August of this year.
The agreement was signed at the headquarters of the Aqaba Special Economic Zone Authority in Aqaba, attended by H.E. Hamad Al Matrooshi, Chargé d’Affaires at the UAE Embassy in Amman; H.E. Shadi Al-Majali, Chairman of the Aqaba Special Economic Zone Authority; and Captain Mohamed Juma Al Shamisi, Managing Director and CEO of Abu Dhabi Ports Group.
The agreement was signed by H.E. Hussein Al-Safadi, CEO of Aqaba Development Company, and Ahmed Al Matroushi, Regional CEO of Abu Dhabi Ports Group.
Captain Mohamed Juma Al Shamisi stated, “The signing today represents a continuation of the strong economic cooperation between our two countries, including the development projects being executed by the group in Aqaba. This aligns with our leadership’s directives to enhance collaboration with our Jordanian counterparts and support the Kingdom’s vision to transform Aqaba into a leading commercial hub in the Red Sea region.”
He further added, “This agreement paves the way for substantial long-term economic advancements in the area, creating new opportunities for business growth that meet the aspirations of our Jordanian brothers.”
H.E. Shadi Al-Majali commented, “This strategic partnership is a key milestone in boosting Aqaba’s role as a competitive and integrated economic zone. The development of the multi-purpose Aqaba Port, in collaboration with Abu Dhabi Ports Group, strengthens the authority’s role in providing a supportive regulatory and investment environment for effective trade and high-value-added logistics services, ultimately achieving sustainable economic growth.”
H.E. Hussein Al-Safadi expressed, “We look forward to working alongside Abu Dhabi Ports Group, our strategic partner at Aqaba Development Company, to further develop and enhance the status of the multi-purpose Aqaba Port as a central hub for trade and transportation in the northern Red Sea region.”
The Aqaba Port boasts a strategic location at the crossroads of three continents and handles approximately 80% of Jordan’s exports and 65% of its imports. It also serves as a crucial transit gateway for trade operations with neighboring countries, including Saudi Arabia and Iraq.