Khaberni - The Ministry of Energy and Mineral Resources, the Ministry of Agriculture, the Public Shareholding Electricity Distribution Company Limited, and the Jordanian Institution for Economic Project Development (JEDCO) signed a joint memorandum of understanding on Wednesday, with an investment size amounting to 14.45 million dinars, aiming to support and encourage investment in the agricultural industries complex in the Southern Jordan Valley in the Karak governorate.
According to the terms of the memorandum, which will last for five years, the value of support for infrastructure from the budget of the Ministry of Agriculture for the factories in the project amounts to 4,847,103 dinars. Additionally, an amount of 1.818 million dinars will be allocated to establish infrastructure for the complex’s project including roads, sewage systems, a purification station, lighting, surveillance cameras, and others, with targeted support for the industrial area with factories valued at 6,655,103 dinars, making the total investment size nearly 14.45 million dinars.
The memorandum highlights that the Ministry of Energy and Mineral Resources is responsible for setting national energy strategies, comprehensive sector planning, and establishing public policies and ensuring their implementation to achieve the general objectives of the energy sector.
The Electricity Distribution Company is responsible for distributing electricity to the project, while the Jordanian Institution for Economic Project Development will handle the responsibility of developing productive projects with a focus on industrial, service, and agricultural sectors, supporting small and medium enterprises, improving the business environment, and providing technical and financial support through the Industrial Support Fund for programs designed according to the different sector needs and requirements.
The memorandum stipulates that production from the project should start within two years from the date of signing the investment contract, that the project must add at least 30% domestic local value, 100% of the production inputs must be from Jordanian local production, along with the commitment to provide a total of 1300 job opportunities for the residents of the Southern Jordan Valley area, including 450 direct job opportunities and 600 indirect job opportunities, along with the commitment to deliver a training plan to qualify the workers in cooperation with competent authorities.
The memorandum aims to enhance cooperation among the four signing parties to implement investment incentives previously approved by the Council of Ministers for the agricultural industries complex area in the Southern Jordan Valley, for the development of small and medium investments, implementation of investment incentives, primarily supporting the electricity costs for small and medium agricultural investments, thereby contributing to the reduction of production costs, increasing the competitiveness of food industries that rely on local agricultural products, and enhancing the added value to the national economy.
