Jordan and the United Arab Emirates (UAE) have established a joint venture (JV) for the construction, operation and maintenance of a 360 km rail freight transport line between the Al-Shidiya and Ghor Al-Safi phosphate and potash mines and the port of Aqaba. The project, estimated at around EUR 2 billion (USD 2.3 billion), will be managed through the newly created UAE-Jordan Railway Company. Participants include L’imad Holding, the new sovereign wealth fund from Abu Dhabi, and Jordanian partners. Etihad Rail will lead the development of the network. The line is designed to handle 16 million t of phosphate and potash annually. The project is part of a EUR 5 billion investment package agreed upon by the two countries in November 2023, followed by a letter of intent in September 2024. According to the Jordanian government, the rail freight transport line is intended to reduce transport costs in the mining sector and strengthen export capabilities via Aqaba.