Agreement Signed for Al-Azraq Free Zone Development

Amman - Minister of Energy and Mineral Resources, Saleh Kharabsheh, and Minister of Investment, Khulood Al-Sakkaf, have signed an agreement to establish and manage a "Special Free Zone" in Al-Azraq.اضافة اعلان

This initiative aims to create a dedicated facility for the storage and maintenance of equipment used by companies engaged in petroleum, gas, and mining operations.
Under the agreement, the Ministry of Energy will be responsible for developing and managing the free zone, including constructing the necessary infrastructure and ensuring its operational efficiency. The agreement is set for a 30-year term, with an option for renewal for an additional 30 years upon mutual consent.

The free zone will cater exclusively to the storage and maintenance needs of drilling and exploration companies. Kharabsheh expressed his vision for the zone to support oil, gas, and mining operations in Jordan and neighboring regions through improved connectivity. This development is expected to enhance the oil industry and create job opportunities, with future plans to expand the zone’s services.

Minister Al-Sakkaf highlighted that, according to the 2022 Investment Environment Law, the Ministry of Investment is responsible for regulating and supervising free zones. The agreement aligns with the Kingdom’s investment strategy, which focuses on economic growth, job creation, and improving the overall business environment.

Behejat Al-Adwan, Director of Natural Resources Projects at the Ministry of Energy and Mineral Resources, explained that the agreement permits the ministry to employ qualified developers, operators, contractors, or consultants for project execution and management. The free zone will be situated on two plots of land owned by the Ministry of Energy in southern Al-Azraq, strategically located near border points with neighboring countries.

The Ministry of Energy will cover all project-related expenses, including construction, maintenance, and operation costs. The ministry will also benefit from financial returns generated through contracts with companies utilizing the free zone. It is anticipated that the free zone will start accommodating companies within three months.

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