Amman: The Ministry of Energy and Mineral Resources, the Ministry of Agriculture, the Electricity Distribution Company (EDCO), and the Jordan Enterprise Development Corporation (JEDCO) signed a joint memorandum of understanding (MoU) aimed at bolstering investment in the agricultural development industrial complex located in the Southern Ghor region of southern Karak governorate. The investment is valued at JD14.45 million.
According to Jordan News Agency, the five-year agreement will see the Ministry of Agriculture allocate JD4,847,103 towards supporting the infrastructure necessary for the project's factories. Additionally, JD1.818 million will be dedicated to developing infrastructure for the industrial complex, encompassing roads, sewage systems, a treatment plant, lighting, surveillance cameras, and other essential facilities.
Moreover, JD6,655,103 will be directed towards supporting the industrial zone and its associated factories, rounding up the total investment amount to approximately JD14.45 million. The Ministry of Energy and Mineral Resources is tasked with crafting national energy strategies and comprehensive sector planning, ensuring the implementation of public policies to meet the overarching goals of the energy sector.
The Electricity Distribution Company will oversee the distribution of electricity for the project, while the Jordan Enterprise Development Corporation will focus on developing productive initiatives in the industrial, service, and agribusiness sectors, with an emphasis on supporting small and medium-sized enterprises (SMEs).
The memorandum also stipulates that production must commence within two years of signing the investment contract, with the project generating at least 30% locally sourced added value and using 100% Jordanian-made production inputs. Additionally, the initiative is expected to create 1,300 job opportunities for residents of Southern Ghor, including 450 direct and 600 indirect jobs, alongside a commitment to offer a training plan for employees in collaboration with relevant authorities.
The MoU seeks to enhance cooperation among the signatory parties to implement investment incentives within the Southern Ghor Agricultural Industrial Estate, as previously approved by the Cabinet. These incentives aim to develop SMEs and provide subsidies for their electricity costs within the agricultural sector, thereby reducing production costs, increasing the competitiveness of food industries reliant on local agricultural products, and boosting the added value of the national economy.