Jordan’s port in Aqaba signs $242 million investment deal
The agreement with the Dutch firm APM Terminals could help increase trade through the Red Sea port.
![APM Terminals.](/sites/default/files/styles/article_hero_medium/public/2022-09/apm.jpg?h=b2589b4a&itok=pmoyVBEX)
Jordan is to receive a large investment in its Red Sea port from a Dutch port operator.
The Aqaba Development Company signed a memorandum of understanding Tuesday with APM Terminals for a $242 million investment in Aqaba. The money will go toward turning the port city into a regional logistics hub. The two entities also aim to increase the amount of maritime trade passing through Aqaba and establish a training center for Jordanian youth so they can learn about port systems, Jordan’s official Petra news agency reported.