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A strategic partnership agreement was signed between the Municipality of Greater Amman, the Investment Unit of the Social Security Corporation, the Integrated Company for Transport and Amwal invest to provide public transport services in the Greater Amman area and on routes that link the capital with other governorates.
Engineer Omar Maani signed the agreement on behalf of the municipality, George Abu Khader on behalf of the Integrated Company and Mufleh Aqel, the commission president of the Investment Unit. Henry Azzam signed on behalf of Amwal Invest. The Integrated Company, in alliance with the municipality, the Investment Unit and Amwal invest, had won a tender to routes in Greater Amman in addition to other routes that it operated previously.
This strategic partnership to invest in passenger transport sector aims at changing the prevailing concept about this sector by following modern ways of providing the services in terms of quality of buses and timely control so that people can depend on it always.
Furthermore, the partnership seeks to enhance the public's dependence on public transport in a way similar to the experience in advanced countries so as to reduce expenditures and fuel consumption in addition to preserving the environment and achieving a balance in public transport sector.
Other advantages can be seen in the provision of a wider base for participation and the continued coordination in organizing routes, solving traffic jams and making special lanes for public transport.
Mufleh Aqel, the commission president of the investment Unit, said the ownership structure brings together parties than can ensure the elements of success to the company, especially the basic role that the municipality will play by facilitating the traffic on the roads.
The alliance will operate about 70 per cent of the public transport buses in the capital on the bases of quality services and will open the door for a quality leap in the type of transport by bringing in 118 new Mercedes buses to operate on gas by midyear, seven of per cent of which are designed for people with special needs. The new vehicles will be in addition to 350 other buses with modern specifications that were originally owned by three companies which merged into the Integrated Company.
The Social Security Corporation (SSC) is a major investor in the tourism sector. Geographically, its portfolio covers most parts of the Kingdom through direct and indirect investments.
SSIF invests in the energy sector through strategic holdings in electricity generation and distribution companies, in addition to renewable energy projects
Al Daman for Development Zones Company (DDC) was established in 2009 as a private shareholding company fully owned by the Social Security Corporation. DDC is the investment arm of the Investment Fund for infrastructure development, services and marketing for the King Hussein Bin Talal Development Area in Al Mafraq and the Irbid Development Area
The value of the equity portfolio amounted to around JD 2,699.6 million as at 31/03/2025
The portfolio consists of money market instruments with maturity dates that do not exceed one year, such as deposits, treasury bills, repurchase agreements, certificates of deposit and current accounts.
The Fund invests in medium and long term loans through direct lending to the Jordanian Government and its public institutions, and also by participating in syndicated loans to companies for a period that is not less than one year.
In September 2020, SSIF established a wholly owned company that will launch an agricultural project in the south on an area of 30,000 dunums with a total investment of JD 13 million