$170m Joint Venture to establish glass factory in Ma'an Development Area

MDC was set up by the South Company for Construction and Development (SCCD), which was established with a mandate to act as a catalyst of growth for the South of Jordan, driving economic and social development through projects that will create jobs, promote education and preserve the natural and cultural character of the area.

The first among SCCD's projects is the Ma'an Development Area (MDA), a project of considerable proportions that is bound to reinvigorate the southern regions of Jordan and to bring economic and social prosperity to the Governorate of Ma'an.

The deal was made official through a signing ceremony that took place at the headquarters of the King Abdullah II Fund for Development and was attended by the CEO of Remal Holding, Mr. Majed Jwiehan, and the CEO of DTEC, Mr. Harold Prang.

The joint venture agreement specifies that the project will be jointly owned by MDC, the Jordanian armed forces, Euro Glass, and Remal Holding, while similarly stipulating that DTEC is to manage, design, and provide technical assistance and the off take of the production of the factory for the first 5 years.

Mr. Majed Jweihan, CEO of Qatari Remal Holding indicated during the signing ceremony that "Jordan is steadfastly becoming an attractive destination for GCC investors, thanks to its favourable legislative and regulatory environment, its political stability, and the availability of a capable and educated workforce.

Mr. Harold Prang, CEO of DTEC, highlighted the social dimension of the project, emphasizing the fact that the glass factory will ultimately create around 2,000 job opportunities in Ma'an when fully operational, with many more indirect jobs to be created around the Governorate as a result of the establishment of the factory.

Made up of four complementary clusters including a residential community, an industrial zone, a Hajj city, and a vocational training center, the Ma'an Development Area (MDA) is set to become a regional hub for industrial activity and a centre of excellence for vocational training, as well as a religious landmark for pilgrims on their way to the Holy cities, offering them the ideal environment for their rest, relaxation and prayer.

MDA will also be home to a thriving and self-sustained city providing its residents and visitors with a quality living and working environment to fulfil their ambitions.

The development of MDA is expected to create more than 7000 jobs in total across the project's phases and will help Ma'anis achieve their full potential while upholding their culture, traditions, and heritage.