Aqaba Development Corporation Signs $242 Million Agreement to Expand and Manage Aqaba Container Terminal 

The Aqaba Development Corporation (ADC) signed a $242 million agreement with APM Terminals, a port operator, to expand and manage the Aqaba Container Terminal. 

The terminal can handle around 1.7 million twenty-foot equivalent units (TEUs) through this agreement. 

The partnership will enhance Jordan’s global trade links and improve the country’s competitiveness, providing easier access to those markets and attracting foreign investment. 

Prime Minister Jaafar Hassan attended the signing event and emphasised the project's significance in furthering Jordan's economic infrastructure and in line with the nation's Economic Modernization Vision.

The cooperation has increased the port's productivity by 300% since 2006 and allowed its quay to be expanded from 500 meters to 1,000 meters. 

The current project's goal is to increase the capacity and operational effectiveness of the terminal. 

The agreement includes a commitment to sustainable infrastructure development aligned with global best practices and capacity expansion. 

The project will prioritise lowering carbon emissions to help Jordan reach its objective of becoming carbon neutral by 2040. 

In keeping with Jordan's Green Growth Plan, these initiatives will assist in establishing Aqaba as a premier green port in the area. 

The partnership is expected to yield significant financial returns for the Aqaba Development Corporation, which projects revenues of $2.5 billion between 2024 and 2046. 

The agreement is anticipated to have a major positive economic impact on Jordan through higher exports, more investments, and improved port operations. 

Its capacity has increased from 600,000 containers to 1.3 million since the partnership's founding in 2006.