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Jordan’s ADC signs $242m pact for logistics hub

Boat, Transportation, Vehicle Creative Commons
The MoU will prepare Aqaba to handle the anticipated maritime trade and shipping increase.

Jordan’s Aqaba Development Company (ADC) and APM Terminals (APMT), a global terminal operator, signed a $242 million memorandum of understanding to develop a regional logistics hub in Aqaba, Jordan News Agency reported.

ADC chief executive Hussein Safadi said that the agreement will prepare Aqaba to handle the anticipated maritime trade and shipping increase.

 A training college will be set up to train Jordanian youth for employment in regional and international port systems.

Meanwhile, APMT said it is currently studying several new investment opportunities in the country, the statement said.

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