Iraqi-Jordanian Company reissues invitation for developer in Joint Economic Estate Project

AMMAN — The Iraqi-Jordanian Company for Industry has reinstated its search for a developer for the Joint Economic Estate Project, which is planned to be established along the shared border of Iraq and Jordan.

Yanal Barmawi, chairman of the company, told the Jordan News Agency, Petra, that the decision was made in response to high interest from international companies. 

Barmawi said that the project was initiated following discussions between His Majesty King Abdullah and the Iraqi prime minister during bilateral summits and trilateral summits involving both countries and Egypt.

He added that the project will act as an economic driver between Amman and Baghdad, and is envisioned to realise integration in multiple fields, bolster development efforts and address poverty and unemployment in Jordan and Iraq.

The chairman noted that the selected developer will be tasked with preparing comprehensive studies, designs and engineering plans and will be responsible for financing, implementing, managing, investing, promoting and operating the economic estate, as well as maintaining its various elements and facilities.

Applicants can obtain a copy of the bidding document starting as of Monday morning at the company's headquarters in Baghdad or the Ministry of Industry, Trade and Supply in Jordan, Barmawi said, adding that the deadline for submitting offers is at 1:00pm of March 1, 2024.

The area of the economic estate is approximately 22 million cubic metres, and is slated to accommodate various facilities in industrial, commercial, logistical, financial, business, education and health sectors.

The estate will also include a residential component, aimed at fostering developed land areas for residential initiatives. Furthermore, it will incorporate a transportation component and a services segment, including green spaces, streets and sidewalks.

The comprehensive nature of the project underscores its potential to drive regional economic growth and development.