8 hours ago
Saudi Arabia signs $586m port privatisation deals to boost logistics sector
Saudi Arabia has signed SR2.2bn ($586m) worth of Build-Operate-Transfer (BOT) privatisation contracts for multi-purpose cargo terminals at eight major ports.
The deals were signed by the Saudi Ports Authority (Mawani) in cooperation with the National Centre for Privatisation, and witnessed by Saleh Al Jasser, Minister of Transport and Logistic Services and Chairman of Mawani.
The contracts span a 20-year period and were awarded to Saudi Global Ports (SGP) and Red Sea Gateway Terminal, two of the Kingdom's leading logistics firms.
Saudi port privatisation deals
Eastern coast: King Abdulaziz Port (Dammam), Jubail Commercial Port, King Fahd Industrial Port (Jubail), Ras Al-Khair Port
Western coast: Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port (Yanbu), Jazan Port
Strategic goals and impact:
Modernize cargo handling infrastructure using state-of-the-art cranes, stackers, and trucks
Reduce truck turnaround times and vessel berth times
Increase container capacity and operational efficiency
Attract further private investment into Saudi Arabia's logistics ecosystem
Strengthen the Kingdom's position as a global logistics hub
Minister Al Jasser underscored that the transport and logistic ecosystem will continue boosting partnerships with the private sector across all regions and sectors in the Kingdom.
He noted that the new privatisation contracts are an extension of strategic partnerships established by Mawani with major national and international specialised companies to empower the maritime transport sector, support economic diversification, and reinforce the Kingdom's position as a global logistics hub.
