SISCO Holding unit to invest $426m to upgrade four ports in Saudi Arabia
Saudi-listed Sustained Infrastructure Holding Company (SISCO Holding) said its subsidiary, Red Sea Gateway Terminal (RSGT), has signed four 20-year Build, Operate and Transfer (BOT) concession agreements with the Saudi Ports Authority (Mawani).for the operation of four existing port facilities on the Red Sea coast.
RSGT will invest a total of 1.6 billion Saudi riyals ($426.42 million) in upgrades for the four facilities over 20 years, SISCO Holding said in a statement to the Saudi stock exchange on Monday.
The newly acquired concessions cover general cargo, dry and liquid bulk, crude oil, petrochemical, RO/RO, and livestock terminals, SISCO Holding said.
Under the new concession agreements, RSGT will consolidate the existing multi-purpose and Ro/Ro terminals at Jeddah Port, while taking operational control of King Fahd Industrial Port Yanbu, Yanbu Commercial Port, and Jazan Port.
SISCO Holding's unit will invest SAR 672 million in infrastructure, equipment and technology to upgrade the four facilities over the first five years.
The concessions will be run by RSGT's 100 percent owned Multi-purpose Terminals (MPT) business unit, which will take over operations of all non-containerised port facilities within the expanding RSGT portfolio.
The move strengthens RSGT's service offerings, operational capacity, and ability to support growing trade flows through the Red Sea.
The combined average annual cargo throughput for these facilities is projected to be three million tonnes of general cargo, 13 million tonnes of bulk cargo, 13.5 million tonnes of liquid bulk cargo, 710,000 units of RO/RO (vehicular) cargo, and 8 million head of livestock.
The concessions will be effective from 1 July 2025.
The financial impact will be reflected in SISCO Holding and RSGT's financial statements from the third quarter of 2025, the statement said.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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