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Mid East Info
28-06-2025
- Business
- Mid East Info
In the Presence of H.E. Al-Jasser … Mawani Signs Privatization Contracts for Multipurpose Cargo Terminals at Eight Saudi Ports with Private Sector Investments Exceeding SAR 2.2 Billion
RIYADH, Saudi Arabia, June , 2025: In the presence of H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistic Services and Chairman of the Saudi Ports Authority, Mawani — in collaboration with the National Center for Privatization — signed contracts to privatize multipurpose cargo terminals at eight Saudi ports under a Build-Operate-Transfer (BOT) model spanning 20 years. The agreements were signed with national partners Saudi Global Ports and Red Sea Gateway Terminal Company, with private sector investments exceeding SAR 2.2 billion. The signing ceremony was also attended by Mr. Mazen bin Ahmed Al-Turki, Acting President of Mawani; Eng. Abdullah bin Mohammed Al-Zamil, Chairman of Saudi Global Ports; Mr. Aamer Alireza, Chairman of Red Sea Gateway Terminal; and a number of other officials. Speaking at the ceremony, H.E. Eng. Saleh Al-Jasser noted that these successive private sector investments reflect the strong appeal of Saudi ports and the logistics sector — a sector that receives generous support from the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince, may God protect them. He also stated that Saudi ports have witnessed remarkable progress in operational efficiency, cargo handling rates, and maritime connectivity, according to international indices — driven by significant investments from leading global and national logistics companies. The Minister emphasized that the transport and logistics ecosystem will continue to strengthen its partnerships with the private sector across all areas and regions of the Kingdom. He noted that these privatization contracts represent an extension of Mawani's strategic partnerships with major national and international companies, enabling growth in the maritime transport sector, diversifying the economy, and reinforcing Saudi Arabia's position as a global logistics hub — in line with the goals of the National Transport and Logistics Strategy and Saudi Vision 2030. For his part, H.E. Mr. Mohannad bin Ahmed Basodan, CEO of the National Center for Privatization, affirmed that the Center aims to empower the private sector to play a key role in enhancing public services and improving operational efficiency. He noted that the signing of these privatization contracts across eight seaports is one of the most significant initiatives in this regard, enabling the private sector to leverage its expertise to develop advanced maritime services aligned with the highest global standards — thereby enhancing operational performance and unlocking broad prospects for economic growth. These efforts also reflect the Center's vision of building an effective privatization ecosystem that delivers sustainable economic impact and supports the Kingdom's ambition to become a global logistics hub under Saudi Vision 2030. Under the contracts, Saudi Global Ports will develop, manage, and operate multipurpose terminals at four Eastern Province ports under Mawani's jurisdiction: King Abdulaziz Port in Dammam, Jubail Commercial Port, King Fahd Industrial Port in Jubail, and Ras Al-Khair Port. Red Sea Gateway Terminal will manage the development and operations of multipurpose terminals at four Western Province ports: Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port in Yanbu, and Jazan Port. The privatization contracts for King Fahd Industrial Port in Yanbu involve increasing container handling capacity through the deployment of the latest STS and RTG cranes, reach stackers, modern trucks and trailers, as well as reducing truck turnaround times and vessel berth stays — all contributing to improved operational efficiency. Notably, these privatization contracts between Mawani and the private sector were signed following approval from the Supervisory Committee for Privatization in the Transport and Logistics Sector, chaired by H.E. Eng. Saleh bin Nasser Al-Jasser. They aim to enhance the competitiveness of Saudi ports, expand operational capacity, support economic growth, and contribute to sustainable development.
Arab News
13-04-2025
- Business
- Arab News
Saudi Arabia, UK set up sustainable infrastructure assembly to bolster trade
LONDON: Saudi Arabia and the UK on Sunday unveiled a new strategic partnership aimed at deepening collaboration between British financial and professional services firms and the Kingdom's sustainable infrastructure developers. The deal was announced by the Saudi Ministry of Investment, UK Department for Business and Trade and City of London Corp. Central to the agreement is the establishment of the UK-Saudi Sustainable Infrastructure Assembly, a platform that will bring together companies, policymakers and industry experts from the two countries to shape the future of investment in the sector. The assembly will initially focus on projects such as the new Electric Vehicle Infrastructure Co., led by Saudi Arabia's Public Investment Fund, and the Prince Faisal Bin Fahad Sustainable Sports City project, spearheaded by the Kingdom's National Center for Privatization. Set to launch next month in Riyadh, the assembly will also meet in London in June under the banner of the UK Government's 'Great Futures' campaign, which showcases cooperation across trade, investment, tourism, education and culture. A final meeting will take place during the Future Investment Initiative in Riyadh in the fall. Among the Saudi members of the assembly are Deputy Assistant for Service Sectors at the Ministry of Investment Fahad Al-Hashem, and Hatim Alghamdi, Hisham Sumayli and Faisal Abdeen from the Ministry of Economy and Planning. Sultan Al-Khalil, general manager of alternative funding at the National Debt Management Center, and Salman Badr, vice president of infrastructure advisory at the National Center for Privatization, will also take part. The British side includes UK Export Finance CEO Tim Reid and Deputy Trade Commissioner for the Middle East Arabian Peninsula Peter Ashby. As Saudi Arabia pursues a $1 trillion infrastructure development pipeline as part of Vision 2030, the assembly is set to help strengthen business ties between the two countries. Saudi Minister of Investment Khalid Al-Falih said: 'Saudi Arabia is driving one of the most ambitious infrastructure transformations in the world, with approximately $1 trillion committed to projects that are not only reshaping our cities but also setting new global benchmarks for sustainability. 'Through Vision 2030, we are integrating cutting-edge technologies, green financing and world-class expertise to ensure that our infrastructure delivers long-term economic, social and environmental value. 'The City of London's leading global expertise and innovative approach to sustainable finance, infrastructure governance and public-private partnerships complement our own ambitions. 'Our long-standing partnership with the UK spans decades, making the City of London a natural partner in achieving our shared vision for a more sustainable and prosperous future,' he said. UK Minister for Investment Poppy Gustafsson said the UK and Saudi Arabia shared a deep commitment to driving sustainable economic growth and attracting global investment into transformational infrastructure projects. 'These assemblies represent an opportunity to strengthen commercial ties between our two nations, ensuring that Saudi projects are well positioned to secure international capital and expertise through the UK. 'This landmark UK-Saudi collaboration exemplifies our 'Great Futures' campaign, fostering partnerships that will drive sustainable development and prosperity, with the UK as a trusted partner in Saudi Arabia's Vision 2030 journey.' Lord Mayor of London Alastair King echoed the sentiment. 'This new partnership offers exciting opportunities for both countries,' he said. 'The UK's expertise in sustainable finance is in demand across the globe. We are world leaders because of our reputation for innovation, access to capital and world-class clusters of expertise. 'This assembly will identify new growth opportunities for Saudi infrastructure and will make it easier for UK firms to engage with Saudi Arabia's thriving market.'
Argaam
28-02-2025
- Business
- Argaam
PPP model allows private sector to develop infrastructure with govt: Al-Jadaan
Minister of Finance Mohammed Al-Jadaan said Saudi Arabia adopted a public-private partnership (PPP) model, allowing private entities to collaborate with the government in developing and managing infrastructure projects. Speaking at the G20 Finance Ministers and Central Bank Governors Meeting, Al-Jadaan highlighted key initiatives such as the National Center for Privatization and the National Infrastructure Fund, which focus on attracting private investments in sectors like transportation, water, and energy. The minister emphasized that the global economy is at a critical crossroads. "The challenges, including slow growth and high debt, are intensifying due to economic fragmentation and trade tensions, highlighting the urgent need for effective coordination and multilateral cooperation," he noted. Al-Jadaan also noted the resilience of the economies in the MENA region despite their successive challenges, highlighting the opportunities and potential that the countries in the region possess for progress and prosperity. He explained that what happens in the region has a significant impact on the international stage.
