DP World Unveils Cutting-Edge South Container Terminal at Jeddah Islamic Port
DP World and the Saudi Ports Authority (Mawani) have inaugurated the state-of-the-art South Container Terminal at Jeddah Islamic Port, marking a significant milestone in DP World's SAR3 billion ($800 million) expansion project.
The transformation cements Jeddah's position as a global trade hub, aligning with Saudi Arabia's Vision 2030 goals.
The three-year project has more than doubled the terminal's capacity from 1.8 million to 4 million TEUs, with a future expansion target of 5 million TEUs. Equipped with advanced automation, AI-powered cargo tracking, and IoT-enabled monitoring, the modernized terminal is set to enhance operational efficiency and supply chain resilience. Gate transaction times have been reduced to just 10 seconds, while new automated and electrified yard cranes improve handling speed.
A formal ceremony marked the launch, attended by Saudi Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser and DP World Group Chairman and CEO Sultan Ahmed bin Sulayem.
Bin Sulayem emphasized the company's commitment to driving trade growth and connectivity in the region.
The expansion also boosts the terminal's reefer capacity from 1,200 to 2,340 units, catering to the rising demand for temperature-sensitive cargo. Additionally, a specialized inspection facility for up to 75 reefers—the largest of its kind in Saudi Arabia—is under development.
Complementing the terminal, DP World is investing in the 415,000 sqm Jeddah Logistics Park, set for completion in Q2 2026. This integrated hub will offer warehousing, distribution, and freight forwarding services, reinforcing Jeddah's role as a strategic link between Asia, Africa, and Europe.
News Source: Emirates News Agency
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
4 hours ago
- Zawya
Saudi Arabia pavilion commemorates 70th anniversary of Saudi Japanese diplomatic relations
Osaka, Japan — The Saudi Arabia Pavilion at Expo 2025 Osaka celebrates the 70th Anniversary of diplomatic relations between the Kingdom of Saudi Arabia and Japan. On June 7, 1955, the two nations established formal diplomatic ties – a historic milestone that laid the foundation for a long-standing partnership. The relationship has evolved over the decades into a multifaceted alliance that promotes cultural exchange and diplomatic cooperation, with a significant economic impact for both countries. Most recently, in February 2025, the two nations signed a Memorandum for Establishing a Strategic Partnership Council, which would be chaired by the leaders of both nations. In the last decade, bilateral trade has grown significantly, from $33.4 billion to $41 billion, with trade volumes now surpassing $41 billion. At Expo 2025 in Osaka, the Saudi Arabia Pavilion is hosting hundreds of business events to foster trade and investment relations between Saudi Arabia and Japan, featuring presentations led by the Ministry of Investment and the Ministry of Commerce, as well as events focused on the opportunities presented by Vision 2030. Dr. Ghazi Faisal Binzagr, Ambassador of the Kingdom of Saudi Arabia to Japan and Commissioner General of the Saudi Arabia Pavilion, said, 'The Saudi-Japanese relationship has grown from strength to strength over seven decades. It runs deeper than just economic partners. It is a testament to the depth of diversity in the relationship we have. Together, with the strength of our history behind us, and the momentum of our present, we are poised to define the future.' 'With Expo 2025 underway in Osaka and the next Expo in Riyadh in 2030, our two nations are at the forefront of global exchange, showcasing the latest innovations, sustainable technologies, and helping shape tomorrow's multilateralism,' Dr. Ghazi concluded. As Saudi Arabia and Japan look to the future, the ongoing Expo 2025 Osaka aims to increase Japanese visitation to Saudi Arabia. The Kingdom aims to attract 30,000 Japanese visitors annually in the lead up to Expo 2030 Riyadh. This forms part of the broader Saudi Arabia–Japan Vision 2030 Strategy, which includes over 80 projects involved across nine sectors: food and agricultural security, media and entertainment, medical care, high-quality infrastructure, finance and investment, competitive industries, energy, SMEs, sport, education, and culture. Cultural exchange has also blossomed as Saudi Arabia emerges as the hub in the Middle East for Japanese culture through its home-grown Manga Studios, which are on display in August at the Saudi Arabia Pavilion. along with the enthusiastic support of over 700,000 visitors to the Saudi Arabia Pavilion since April 13th2025. The Saudi Arabia Pavilion hosts over 700 events across the Expo 2025 Osaka program, including daily performances and live shows. The site offers an exciting visitor journey through seven immersive rooms. Additionally, Saudi Arabia will host its National Day on September 23rd with a full array of events and presentations. Media Contact: Email: Media@ Website & Social Media Handles: Instagram: @ksaexpo2025 X: @KSAExpo2025_ YouTube: @KSAExpo2025 LinkedIn: Saudi Arabia at Expo Facebook: KSA Expo 2025 TikTok: @ksaexpo LINE: KSA 大阪万博2025 Website:
Al Etihad
8 hours ago
- Al Etihad
Fitch reaffirms TAQA's credit rating at ‘AA Stable'
7 June 2025 15:42 A. SREENIVASA REDDY (ABU DHABI)Fitch Ratings has reaffirmed Abu Dhabi National Energy Company's (TAQA) long-term credit rating at 'AA' with a Stable Outlook, underscoring the company's robust financial profile and strategic importance to the Abu Dhabi rating reflects TAQA's classification as a government-related entity, with Fitch assuming 'virtually certain' support from the Abu Dhabi government in all financial continues to enjoy the same sovereign rating as the government of Abu Dhabi, based on the expectation that its obligations would be fully supported if needed. Alongside this, Fitch Ratings has maintained TAQA's standalone credit profile (SCP) at 'bbb+', recognising the company's solid operational fundamentals.'The standalone profile reflects TAQA's strong business fundamentals, which are supported by its dominant presence in Abu Dhabi and a substantial portion of regulated and quasi-regulated earnings. We expect higher capex in 2025-2028 to increase its funds from operations,' Fitch Ratings observed in its latest agency highlighted that regulated and quasi-regulated businesses contributed 51% and 34%, respectively, to TAQA's 2024 EBITDA, underlining the company's stable revenue base. 'It has a leading position in Abu Dhabi as a fully integrated utility,' the agency cited several factors that justify the continued strong rating for TAQA, a key player in the region's energy infrastructure. 'We see no effective substitutes for TAQA given its role in the energy system of Abu Dhabi. TAQA has a large share in power generation and water desalination, monopoly in the electricity and water transmission and distribution (T&D), and wastewater treatment,' the report strategic investments have further reinforced TAQA's position. The 2024 acquisition of Sustainable Water Solutions Holding Company (SWS) and an equity stake in Abu Dhabi Future Energy Company (Masdar) have bolstered the company's capabilities as a leading integrated utility. 'A TAQA default could also affect the cost of funding for the sovereign, given its large size and activity on capital markets,' Fitch expects the regulatory framework governing electricity and water T&D in Abu Dhabi to remain stable and transparent, with effective cost-recovery mechanisms that compare favourably to other emerging markets. It also anticipates continued and timely subsidy payments from the state, supporting TAQA's financial ahead, Fitch forecasts that TAQA will receive increased earnings contributions from its associate companies over 2025–2028, amounting to Dh1 billion annually, with half of that expected from ADNOC Gas, in which TAQA holds a 5% stake. 'We do not forecast any dividends from Masdar, given its ambitious growth plans and targets,' the agency remains committed to Vision 2030, particularly in transmission, distribution, water, and power generation. Fitch estimates that Dh8 billion will be injected over 2025–2026, reinforcing TAQA's long-term investment trajectory. 'TAQA also plays an important role in achieving Abu Dhabi's energy targets of 2050, through its commitment to invest around Dh75 billion in 2021–2030, of which Dh26.7 billion were invested in 2021–2024,' Fitch summary, TAQA's reaffirmed rating is anchored in its strong business profile, stable cash flows, supportive regulatory environment, and strategic position in Abu Dhabi's utilities sector, backed by the near-certain support of the government. ADQ, the sovereign wealth fund, holds over 90% stake in TAQA, which is listed on the Abu Dhabi Securities Exchange with market cap of Dh370 billion. Source: Aletihad - Abu Dhabi
Arabian Post
14 hours ago
- Arabian Post
From petrostate to deal state: Gulf IPO markets mature
Maein Khalid Since the pandemic, IPO activity across GCC capital markets has surged – offering a sharp contrast to the stop-start pace on New York's Nasdaq and the near standstill on London's LSE. Nearly 300 IPOs have raised around $50 billion across the Gulf since 2021. ADVERTISEMENT Below I outline six key macro themes shaping this post-Covid IPO boom in the GCC. First, contrary to expectations, the number, size and aftermarket performance of IPOs in the GCC have shown little correlation with oil prices. Since 2021 Brent crude has swung wildly, yet IPO momentum has remained resilient, even in hydrocarbons-heavy markets like Saudi Arabia. Second, the sheer variety of sectors that contributed to regional IPO deals demonstrates that non-oil growth, industry deregulation, private sector entrepreneurship and e-commerce are powerful macro themes in the Gulf. The two largest IPOs in the GCC last year were the $2 billion food delivery app Talabat's IPO, listed in Dubai's DFM, and the $1.8 billion Lulu hypermarket, a 50-year-old family-owned grocery chain listed on Abu Dhabi's ADX. ADVERTISEMENT Last year saw 48 IPOs from sectors as varied as grocery chains, software and IT services, e-commerce, education, healthcare, financial services, remittance solutions, leisure, transportation and real estate. Third, Saudi Arabian deal flow both dominated the IPO pipeline and dramatically outperformed its GCC peers in aftermarket trading. For instance, 38 out of the 48 deals in the GCC that raised $12.06 billion in 2024 originated from the kingdom, and the average aftermarket performance in the week following the IPO was a spectacular 45 percent. The kingdom's first three IPOs on the main market this year all went 'limit up', surging on their first day of trading by the maximum 30 percent allowed. It is no mistake that the first aviation IPO in the region in almost two decades – Flynas is seeking to raise $1.1 billion – is taking place in the kingdom. This is a testament to both the vast liquidity available in the Saudi new issue market and the magnetic power of the kingdom's junior exchange, Nomu, which saw 27 companies listed in 2024 alone. New listings on Nomu are typically domestic Saudi firms operating in high-growth sectors tied to the kingdom's digital transformation – highlighting a clear link between rising tech literacy among its youthful population and a growing appetite for high-risk, high-reward IPOs. Fourth, the GCC IPO constellation is dominated by Saudi Arabia and the UAE, with Oman a distant third. Saudi Arabia's 38 IPOs in 2024 dwarfed seven from the UAE, two from Oman and a solitary flotation in Kuwait. This spectacular asymmetry in the national origin of IPOs reflects the vast differences in the capital markets milieu, investor ecosystems and liquidity preferences among the six GCC states. Fifth, the recent IPO boom has attracted global investor interest in the Gulf's emerging capital markets, as sovereign wealth funds from the region have become a significant force in Wall Street and Silicon Valley deal-making. This trend will both broaden and deepen the GCC capital markets, evidencing that they are no longer an illiquid sideshow in the emerging markets universe. Historically the GCC IPO landscape was dominated by state-led privatisations and secondary offerings, with governments selling minority stakes in national champions. The most iconic example remains the 2019 Saudi Aramco listing – still the largest IPO in history – which raised $25.6 billion by selling just 1.5 percent of the company on Riyadh's Tadawul exchange. But the market has since evolved, moving beyond oil giants and into broader, more diversified territory. Saudi Aramco subsequently raised $12 billion in a secondary offering last year. These mega deals played a crucial role in the development of the kingdom's capital markets infrastructure and set the stage for the current bullish IPO environment. The UAE's role as the most diversified, cosmopolitan and networked economy in the Arab world can be gauged by the fact that it contributed to the two largest IPOs of 2024 – both private sector businesses with no connection to oil and gas or the government. The 2025 IPO of Bahrain-based Investcorp Capital marked a milestone for the region – positioning Abu Dhabi where it listed not just as an oil-rich emirate, but as a rising power in global finance. By listing a world-class alternative investment manager on the Abu Dhabi Securities Exchange, the UAE has shown it is no longer just deploying capital abroad – it's building the infrastructure to manage it at home. As a growing nexus for hedge funds and private capital, Abu Dhabi is fast becoming a noodle point in the global alternatives ecosystem. Mixed IPO outlook I predict the Saudi Arabian sovereign wealth fund PIF will midwife the next generation of privatisation IPOs in the kingdom, as it did with Saudi Aramco in 2019. But while the IPO market outperformance and the sheer scale of domestic liquidity flows make mega privatisation listings viable, the same cannot be said for smaller GCC states like Oman and Bahrain. Facing tighter fiscal constraints, their private investor base tends to favour quasi-debt, high-yield instruments issued by state-owned blue-chips over equity exposure. The sale of a 25 percent stake in OQ Gas Networks by Oman's state energy company suggests that it is problematic to engineer an IPO or even a state-owned energy colossus when oil prices are mired in a bearish downtrend. While the IPO marked a milestone for the Muscat bourse, it also revealed the limitations of investor appetite when crude prices are under pressure. Unlike Saudi Arabia's liquidity-fuelled listings, Oman's experience shows that timing – and broader market sentiment – can still make or break even the most strategic flotations. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
