Saudi-Jordan Investment Fund To Build Mega Railway Project

Saudi Ambassador to Jordan, Nayef bin Bandar Al-Sudairi, explained that the project is the largest in the history of relations between the two countries. The railway plan will be deployed within the joint ventures proposed by the SJIF.

In February 2019, the Aqaba Special Economic Zone Authority and the SJIF signed a memorandum of understanding (MoU) to develop, manage and operate a railway network linking Aqaba's seaports with the Ma'an land port.

It is the first stage of the national project (the national railway network) that the Jordanian government is seeking to gain, including constructing the land port of Ma'an.

The fund also approved a contract to build a hospital and a medical university for $400 million, providing 300 beds, accommodating 600 students, and providing 5,000 job opportunities.


Established in 2017, the SJIF is a public limited company under the Jordan Investment Fund Law and the Jordan Investment Fund Companies Law. It is a partnership between the Public Investment Fund (PIF) of Saudi Arabia and 16 Jordanian commercial and Islamic banks.

With a $3 billion capital commitment, SJIF pursues strategic, sustainable, and economically feasible investments in Jordan's vital and promising sectors. SJIF seeks to invest in viable long-term projects, create a transparent and sustainable socio-economic impact in Jordan, and align its objectives with the PIF's strategic investment direction. Saudi's PIF contributes 90% of its capital, while Jordanian banks contribute the remaining 10% of the capital.

In line with Saudi Arabia's Vision 2030, SJIF represents one of the country's initiatives to diversify its global investments and foster further regional cooperation. At the same time, SJIF aims at propelling socio-economic growth and development in Jordan through its investments.

The bilateral trade between Saudi Arabia and Jordan reached $5 billion in 2019.