The Saudi Development Fund (SDF) and the Jordanian government recently signed a funding grant agreement valued at $30 million to finance infrastructure project for new industrial cities, a report said.

The Jordan Industrial Estates Corporation (JIEC) plans to implement and finance the industrial cities in the governorates of Tafila, Madaba, Jerash and Balqa through the fund and the company's self-revenue, added the Saudi Gazette report.

The grant comes in the framework of joint cooperation between the governments of Jordan and Saudi Arabia, as it is a part of the second phase of the Saudi contribution to the Gulf grant, JIEC's chief executive Ali Madadha was quoted as saying in the report.

The project is estimated to be completed by the end of 2017, Madadha added, noting that the JIEC will begin implementing these projects during the last quarter of 2015.