Infrastructure
Infrastructure projects play a crucial role in contributing towards the industrialization and the development of the national economy. The PIF, in partnership with a large number of local and international partners, implements a series of projects under this sector such as the Jericho Agro-Industrial Park, Tarqumia Industrial Park, Ooredoo Palestine, as well as other projects and investments.
Tarqumia Industrial Park and Bonded Area
Located near Hebron, Tarqumia Industrial Park seeks to operate as an industrial park and a bonded area. The masterplan of this project aims to enable the park to facilitate the movement of goods to regional and international markets – serving as a strategic connection to integrate the economies of Gaza and the West Bank. As the PIF was assigned by the government to develop and operate the park, the costs of this project are estimated at $105 million.
The park will be connected to the ports and the Jericho Agro-Industrial Park, enabling Palestine to access Arab countries and the rest of the world. It will provide investors and companies with warehouses, large swaths of land, modern technological logistics solutions to strengthen Palestinian products, and promote competencies in the Palestinian industrial supply chain, and other benefits.
Jericho Agro-Industrial Park (JAIP)
Covering an area of 615 dunoms, the Jericho Agro-Industrial Park is located on the eastern side of the city, 7 kilometres from the Karama border crossing and 30 kilometres from Jerusalem. In essence, this project aims to increase Palestinian exports in international markets through facilitating improved trade infrastructure and processes. The project will provide, upon completion of all stages, about 5,000 direct jobs and at least 10,000 indirect jobs. It will also stimulate economic activity in Jericho.
With an investment size of $40 million, the project is designed to create a conductive investment environment as well as to enhance the standards and quality of Palestinian products to increase its competitiveness in international markets.
The first phase of the project was completed on an area of 140 thousand square meters of integrated infrastructure, featuring commercial, industrial, storage and distribution facilities.
In 2019, 10 factories were operating in the park and additional 30 factories signed contracts to operate in the park. PIF is one of the main shareholders and founders of the project in partnership with Palestine Real Estate Investment Company – PRICO and Sanabil Investment Company.
Increase Palestinian exports in international markets
Ooredoo Palestine
The services of Ooredoo Palestine were launched in 2009 as a partnership between PIF and Ooredoo International Group. The company commenced operations in the West Bank in the same year. It offered its shares for the initial public offering in 2010, while its shares were listed on Palestine Stock Exchange in 2011. It succeeded in launching its commercial services in the Gaza Strip in 2017 despite the many obstacles and launched 3G services in 2018 in the West Bank. Ooredoo continued its year-on-year success, bringing its total subscriber base to 1.3 million at the end of 2019.
Number of Subscribers in Ooredoo Increased to reach 1.3
Palestine Telecommunications Group (Paltel Group)
The first operator in the telecommunication services in Palestine, wherein PIF is considered a co-founder. Paltel commenced operations in 1997 as a public shareholding company for the purpose of providing wired and wireless telecommunications and internet services in Palestine through building the necessary infrastructure.
MADA Al-Arab for Telecommunications and Internet Services
Mada Al-Arab is a Palestinian broadband and internet service provider. In an effort to support digital access in Palestine, the PIF invests equity shares with Mada Al-Arab.
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