The Jordanian government will review a proposal early next year to restructure the state-owned Aqaba Railway Corporation (ARC) into a public company which will operate on a commercial basis. The move will prepare the Corporation for privatization in 2005, reported Jordan Times.
ARC provides rail service from phosphate mines owned by the Jordan Phosphate Mines Company (JPMC) at El Abiyad, El Hassa, Eshidiya. About 2.8 million tons are currently transported by ARC, however it is expected that this tonnage could double with construction of extensions of the railway.
The privatization of ARC was initiated in 1999 when the Jordanian government agreed to transfer the management of the railway over to an international consortium for a 25-year period. However, the agreement was never realized since JPMC and the consortium failed to agree on a price range for transportation costs. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
