The Iraqi-Jordanian Company for Industry announced an open international tender to build a joint economic city on the border between the two countries.
The company added that the developer will finance, implement, manage, invest, promote and operate the planned economic city and maintain its facilities.
Yanal Nawaf Al-Barmawy, Chairman of the Board of Directors of the Company, explained that the project would be built on an area of 22 million square meters allocated from the border lands of Jordan and Iraq, with the aim to enhance bilateral economic cooperation, and contribute to Arab economic integration in a number of fields.
In a statement to Oman News Agency, Barmawy noted that the project seeks to bring about the required development in the eastern regions of Iraq and the western regions of Jordan, reduce unemployment, revitalize the logistical sectors, increase exports, and meet the needs of the two countries’ markets for various commodities.
He also said that the city will be established and developed in three stages, and will include industrial, commercial and logistical components, as well as centers for the promotion of business, finance, education, health, transportation, housing, in addition to construction, infrastructure and green spaces.
Work on the project is expected to begin during the first quarter of 2024.
