Jordan Industrial Estates Corporation and the International company for Technical specialized mineral Industries Signed anew investment agreement at Al-Mowaqar Industrial Estate with a capital size reaches up to 100 million dinars, which is the first of its type and size of local and regional area, with total area of 113 dunums, which will create (500) jobs for the first phase followed by other three stages.
Amer Majali, director general director general of (JIEC) who signed the agreement with Mr. Mahmoud Al-Far Vice Chairman of the investor company, Said that investment in the industrial Estate at Al-Mowaqar Industrial Estate performance confirms the continuation of the growing industrial sector of Jordan and ejected between sectors despite the global economic and regional conditions and the signing of the Convention the new investment clearly indicated the strength of the Jordanian economy and the effectiveness of the investment law, referring to the ongoing efforts of (JIEC) and its work within the strategy and plans for long-term results are reflected at the country level.
And Eng Majali said that JIEC is currently attracting many requests from serious value-added investments, which looks the investment as a catalyst in the industrial estates and the mainstay of its success, adding that occupancy rates in the industrial city of Al-Mowaqar after the signing of this investment amounted to 40% of the area of the first phase, which up to 1178 dunums of 2500 dunums and the total capital of investments is (132) million dinars.
Form his side, deputy General Manager of the investor company Mahmoud Al-Far said that the new investment comes as part of industrial investments initiated by the company in Jordan, especially after the success of an investment project specialized in the manufacturing metal Tubes and steel pipes. He also said the aim of the investment is to manufacture new products of the metallurgical industry in various forms, noting that the company has bought an area of 113 dunums in Al-Mowaqar Industrial Estate.
Mr. Al-Far emphasized that the choice of investing has been taken under an accurate feasibility study based on actual trade-off among several options, noting that the location of the industrial Estate is strategic and provides all the supplies and infrastructure investments, as well as providing ancillary services such as chambers of industry and trade, banks, labor office and storage space.
Omar Ayub the director general of the new company, Praised on the facilities provided by the Jordan Industrial Estates Corporation for the success of any industrial project, noting that the investment project will be implemented in four stages from the starting from date of signing.