In a significant move to support Jordan’s industrial sector, Housing Bank has signed an agreement with Tanmiah for Natural Gas to finance the first phase of a project aimed at supplying several industrial clusters with natural gas in cooperation with Jordanian Egyptian FAJR for Natural Gas Transmission and Supply. the financing will cover part of the costs associated with development of the infrastructure and sub-networks necessary for the transmission, delivery, and distribution of natural gas to industrial facilities.

The agreement was signed at Housing Bank’s headquarters by Ammar Al-Safadi, CEO of Housing Bank, Engineer Fouad Rashad, CEO of Jordanian Egyptian FAJR for Natural Gas Transmission and Supply (the parent company of Tanmiah for Natural Gas), and Mohammad Al-Tarabily, CEO of Tanmiah for Natural Gas. The signing ceremony was attended by Abdulilah Al-Khatib, Chairman of Housing Bank, along with senior representatives from both parties.

This agreement reflects Housing Bank’s commitment to supporting industrial enterprises by helping them reduce energy costs compared to traditional fuel sources. Lower energy costs can lead to reduced production expenses, enhance the competitiveness of Jordanian industries both domestically and internationally, and attract more industrial investments, all while creating additional job opportunities.

Ammar Al-Safadi, CEO of Housing Bank, said, “This agreement represents our cooperative role in balancing between fostering sustainability and stimulating economic and social growth. By enabling investment in strategic development projects, we aim to support efforts to diversify energy sources and promote their use across various sectors, particularly in the industrial sector, which is the largest energy consumer.”

Engineer Fouad Rashad, CEO of the Jordanian Egyptian FAJR, expressed his appreciation for Housing Bank’s continued support for energy and infrastructure projects. He further emphasized his optimism regarding this agreement, which will directly contribute to expanding natural gas projects in Jordan and help reduce production costs for industrial customers, aligning with the Kingdom’s economic modernization vision.

Muhammad Al-Tarabily, CEO of Tanmiah for Natural Gas, added, “This financing marks a significant step toward transforming the way industries access natural gas, in line with the broader Jordanian-Egyptian cooperation in the energy sector. We are grateful for Housing Bank’s support, which strengthens our ability to finance infrastructure projects that will reduce energy costs for the industrial sector.”

It is worth noting that Housing Bank has long been a leader in supporting vital sectors in Jordan, particularly the energy and industrial sectors. Through its financing programs, the bank encourages the adoption of renewable energy solutions and energy efficiency measures, aligning with its commitment to sustainability across various fields.