Complex Made Simple

Jordan urged to invest in train manufacturing

Jordan has an opportunity to achieve $21bn in profit in 7 years if it enters the train manufacturing market, Board Chairman of the Italian BLUE Group Eng. Mohammed Eid said. In a statement to Jordan News Agency, Petra, he said Jordan has a major opportunity to benefit from $450m worth of projects that have been announced by Gulf countries for the next seven years. Eid said a consortium of 8 Italian companies voiced readiness to establish a train factory in Jordan as soon as possible, noting that the volume of investments in this sector over the next 7 years stand at $140bn in Saudi Arabia, $120bn in Dubai, $100bnn in Qatar and $100bn in Iraq. "If Jordan gets 5% of the value of Gulf investments, it will achieve a profit of $21bn over the next 7 years," the official said, noting that the train factory will create 10,000 job opportunities in Jordan.