ADFD gives Jordan another boost, Oro raises USD 3 mn, Fujairah to add 1.7 mn tons of cement capacity

Jordan gets another UAE boost — this time in gas

The Abu Dhabi Fund for Development (ADFD) is backing a USD 70 mn expansion of Jordan’s natural gas network to supply the Al Rawda and Al Muwaqqar industrial cities, Trade Arabia reports. Contracts were signed to connect the two zones to the national grid in a move aimed at lowering energy costs for manufacturers and boosting industrial competitiveness.

The support goes well beyond gas: ADFD also signed around AED 1.1 bn (USD 300 mn) in financing for Jordan’s budget and development programs and backed a USD 40 mn technical schools project. It adds to a broader UAE development push in the kingdom, including the USD 2.3 bn Aqaba railway project and Masdar’s planned 25 MW wind project in Batn Al Ghul.

Oro raises USD 3 mn to push AI deeper into DeFi

UAE-based financial AI startup Oro raised USD 3 mn to scale its platform — which turns plain-language instructions into multi-step DeFi transactions — in a round co-led by MH Ventures and Mapleblock Capital, according to a press release. The non-custodial platform keeps transactions user-authorized. Oro says it has more than 350k active users and will use the new capital, which takes total funding to USD 4 mn, to expand its AI stack, compliance framework, teams, and B2B integrations.

Fujairah adds another 1.7 mn tons in cement capacity

Fujairah Natural Resources Corporation and India’s JSW Cement inked a contract to establish and operate a cement grinding unit in Al Tawyeen with an annual production capacity of nearly 1.7 mn tons, state news agency Wam reports. The project is expected to take 15 months to complete and will produce ordinary Portland cement to help meet demand across the UAE and broader GCC.