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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.

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. 

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