Latest news with #JeddahIslamicPort
CairoScene
20 hours ago
- Business
- CairoScene
Saudi Ports Strike 20-Year Deals for Multi-Purpose Terminals
The 20-year contracts worth USD 586M with private operators will help manage terminals at eight key ports, as it sharpens global maritime logistics. The Saudi Global Ports Company has signed 20-year contracts worth over USD 586 million with international and local partners to develop and operate multi-purpose cargo terminals at eight ports across the Kingdom. The agreements, structured as build-operate-transfer projects, reflect an uptick in public-private coordination to expand infrastructure on both coasts. The Saudi Global Ports Company will oversee operations at east coast locations including King Abdulaziz Port in Dammam, Jubail Commercial Port, King Fahd Industrial Port in Jubail, and Ras Al Khair Port. On the west coast, Red Sea Gateway Terminal will take over terminals at Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port in Yanbu, and Jazan Port. Equipment upgrades at key ports include STS and RTG cranes, reach stackers, and trailers to improve turnaround and vessel handling times. These developments follow earlier contracts to expand container capacity at Jeddah Islamic Port and King Abdulaziz Port, where investment totals have exceeded USD 4.2 billion. Additional deals have focused on the creation of 20 logistics zones throughout the country, backed by over USD 2.6 billion. Saudi Arabia's port authority, Mawani, has ramped up privatisation since 2020, as the Kingdom seeks to increase port efficiency and global rankings in shipping performance. Past initiatives have emphasised terminal automation and international partnerships with operators based in Asia and Europe.
Asharq Al-Awsat
4 days ago
- Business
- Asharq Al-Awsat
Saudi Arabia Signs New Port Contracts Worth Over $586 Million
Saudi Arabia's General Authority for Ports (Mawani) has signed a series of new build-operate-transfer (BOT) contracts worth more than SAR 2.2 billion ($586.6 million) to develop multi-purpose cargo terminals at eight of the Kingdom's ports. Acting President of Mawani, Mazen Al-Turki, announced the deals during a signing ceremony held on Monday, describing the move as another milestone in Saudi Arabia's continued infrastructure development under government leadership. These 20-year contracts are part of a strategic public-private partnership, bringing together local and international investors to enhance operational capabilities and increase the handling capacity of Saudi ports. The initiative aligns with the objectives of the National Transport and Logistics Strategy, which seeks to position the Kingdom as a global logistics hub. Al-Turki emphasized that these new agreements build upon previous privatization deals, including the development of container terminals at Jeddah Islamic Port and King Abdulaziz Port in Dammam, with investments exceeding SAR 16 billion. The Authority has also signed agreements to develop 20 logistics zones across the country, backed by over SAR 10 billion in investments. He added that the latest contracts reflect the significant transformation and strategic evolution of Saudi Arabia's ports, contributing to improved international performance indicators and reinforcing the Kingdom's role as a key player in the global maritime industry. Minister of Transport and Logistics Services and Chairman of Mawani, Eng. Saleh Al-Jasser, noted that the growing flow of private-sector investment demonstrates the attractiveness of Saudi ports and the logistics sector. He highlighted recent advancements in operational efficiency and maritime connectivity, supported by major global and national companies. Al-Jasser affirmed that the Kingdom's transport ecosystem will continue expanding its partnerships with the private sector across all regions and domains, with the new contracts marking the continuation of strategic collaborations with leading global and local port operators. Under the newly signed contracts, the Saudi Global Ports Company will develop, manage, and operate multi-purpose terminals at east coast ports, including King Abdulaziz Port in Dammam, Jubail Commercial Port, King Fahd Industrial Port in Jubail, and Ras Al Khair Port. Meanwhile, Red Sea Gateway Terminal will handle similar operations on the west coast, covering Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port in Yanbu, and Jazan Port. At King Fahd Industrial Port in Yanbu, the agreements include modernizing cargo handling with state-of-the-art STS and RTG cranes, reach stackers, trucks, and trailers, aimed at reducing truck turnaround times, vessel berthing durations, and boosting overall efficiency.
Leaders
4 days ago
- Business
- Leaders
Transport Minister Signs SAR 2.2B Mawani Port Privatization Deals
Saudi Arabia's Minister of Transport and Logistic Services and Chairman of the Saudi Ports Authority (Mawani), Saleh Al-Jasser, today witnessed the signing of landmark privatization contracts for multipurpose cargo terminals across eight Saudi ports. The agreements, executed in collaboration with the National Center for Privatization, are structured under a 20-year Build-Operate-Transfer (BOT) model with total private sector investments exceeding SAR 2.2 billion. Saudi Global Ports The contracts were signed with national operators Saudi Global Ports (SGP) and Red Sea Gateway Terminal. Moreover, SGP will oversee terminals on the Kingdom's eastern coast—King Abdulaziz Port in Dammam, Jubail Commercial Port, King Fahd Industrial Port in Jubail, and Ras Al-Khair Port. Red Sea Gateway Terminal will also manage those on the western coast—Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port in Yanbu, and Jazan Port. Moreover, Al-Jasser emphasized that continued private investment highlights the competitiveness of Saudi Arabia's ports and logistics sector. He noted strong interest from both local and global logistics companies and pointed to the sector's rapid progress in operational efficiency, cargo throughput, and global maritime connectivity. Mawani He affirmed that expanding public-private partnerships is a key part of the Kingdom's transport and logistics ecosystem. This aligns with the National Transport and Logistics Strategy and Vision 2030. The new agreements build on existing collaborations between Mawani and top national and international firms. They also aim to strengthen maritime transport, diversify the economy, and make Saudi Arabia a global logistics hub. The contract for King Fahd Industrial Port in Yanbu includes infrastructure upgrades such as expanded container handling capacity and the deployment of advanced ship-to-shore (STS) and rubber-tired gantry (RTG) cranes, trucks, and trailers. Finally, these enhancements are expected to significantly improve operational efficiency by reducing truck turnaround times and vessel berthing durations. Related Topics : Jeddah Islamic Port Launches MEDEX Shipping Service to Strengthen Global Connectivity Saudi Arabia's Mawani Crowned Logistics Hub Champion at ShipTek 2025 New Chapter Unfolds: Mawani Lists Jeddah Islamic Port on London Metal Exchange Saudi Arabia to Host 5th Maritime & Logistics Congress in Dammam Short link : Post Views: 1
