Jordan's Energy and Mining Sectors: Opportunities for Economic Growth and Development
Key Ideas
- Minister Kharabsheh urges private sector involvement in energy and mining projects to boost national economy and meet energy needs by 2033.
- Jordan aims to increase renewable energy contribution to 50% by 2030 and anticipates green hydrogen projects to enhance energy mix.
- Efforts such as the $800-million hydroelectric power storage project at the Mujib Dam aim to reduce reliance on imported energy and enhance infrastructure.
- Government strategies align with the Economic Modernisation Vision to secure energy supply, diversify sources, and promote local contributions to electricity generation.
The Minister of Energy and Mineral Resources, Saleh Kharabsheh, urged the private sector in Jordan to participate in energy and mining projects to boost the national economy and contribute to the Economic Modernisation Vision (EMV). He emphasized the significant investment opportunities available in these sectors and highlighted the importance of local contributions to investments. The minister outlined Jordan's aim to meet its natural gas needs by 2033 and increase renewable energy's contribution to electricity generation to 50% by 2030. Kharabsheh also mentioned the anticipation of numerous green hydrogen projects to enhance the energy mix.
The government's energy strategy includes initiatives like the $800-million hydroelectric power storage project at the Mujib Dam, aimed at reducing reliance on imported energy. The strategy aligns with the EMV to secure energy supply, diversify sources, and promote local contributions to electricity generation. Efforts are focused on reducing production costs in the electricity sector, increasing revenues, minimizing debt, and ensuring financial equity among stakeholders.
In the mining sector, the ministry aims to boost high-value industries to drive economic development, increase GDP contributions, and generate job opportunities. The government plans to deliver gas to industrial clusters nationwide through a natural gas network to enhance export competitiveness and reduce production costs. Jordan is also focusing on oil exploration and drilling in 12 areas, with strategic raw materials prioritized to maximize added value and support transformation industries.
Chairman of the Jordanian Businessmen Association, Hamdi Tabbaa, highlighted challenges faced by the sectors, including geopolitical issues, high electricity loss, and the costly production of oil from oil shale. Despite challenges, the sentiment in the article remains positive regarding the efforts and initiatives to enhance Jordan's energy and mining sectors for sustainable economic growth and development.
Topics
Projects
Renewable Energy
Job Creation
Government Initiatives
Economic Growth
Industry Development
Investment Opportunities
Energy Strategy
Mining Sector
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