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The Hashemite Kingdom of Jordan


Ministry of Water and Irrigation
RED SEA DEAD SEA PROJECT
The Proposed Project
RSDS/Phase1
Summary of 
  
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• South Amman City: Development of high-density residential housing to accommodate a 30-year population growth of up to 1,000,000 people in the region south of Amman.
• South Dead Sea City: A mixed-use city featuring a JRSP-related industrial development zone with an adjacent residential community and commercial town center to support a 30-year population
growth of up to 180,000 workers and residents south of the existing South Dead Sea industrial area.
• North Aqaba City: Development of a new mixed-use city with technical and professional employment, a variety of workforce housing and a commercial town center in the Araba Valley corridor, north of Aqaba to support a 30-year population growth of 40,000 people.
This Economic Development Zone (EDZ) includes a potential university campus and destination theme park.
• Resorts: Development of five new resort properties with an assortment of amenities focused on the growing tourism and recreation industry. Resorts could be located near the south Dead Sea, Petra,
Wadi Rum and other national park areas, and Aqaba.
• Gated Communities: Development of low-density, gated communities of luxury villa homes in multiple locations to accommodate 120,000 residents in 47,000 homes. Figure I-2 on the following page illustrates the location of elements of the Economic Growth and Development Plan relative to the conceptual JRSP Infrastructure.
Part IV – Economic Growth and Development Plan provides key parameters and assumptions used to create revenue streams for the JRSP Project. These revenue streams are subsequently incorporated into the JRSP economic models.

JRSP Funding and Financing Plan
The development concepts and economic goals are based on estimated project financial needs over a 30-year period. In general, the concepts presented and any other concepts proposed must be able to provide revenue streams that form a cumulative income to the JRSP Company that support the timely repayment of project debt, provide a reasonable rate of return to project investors, provide income for the JRSP Company and supports project financing requirements of the project. The JRSP economic objectives will be supported by having the GoJ provide exclusive development and revenue rights for economic development objectives along with development rights and off-take agreements for water with the JRSP Company. Both sets of rights (water and non-water) will enable development of water and non-water revenue streams for JRSP Company.
Funding and Financing Plan provides conceptual level components, characteristics and assumptions used to create an economic model for the life of the project. Estimated costs and revenues show that the JRSP Project has been structured to be financially feasible to deliver a reasonable rate of return to project investors—both private and public

 

 

 

 

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