Latest news with #RSGT
Argaam
12 hours ago
- Business
- Argaam
MAWANI signs SAR 2.2B privatization contracts for cargo terminals
The Saudi Ports Authority (MAWANI), in partnership with the National Center for Privatization & PPP, signed build-operate-transfer (BOT) contracts with national partners - Saudi Global Ports (SGP) and Red Sea Gateway Terminal (RSGT) - at an investment value of more than SAR 2.2 billion for multi-purpose cargo terminals at eight ports across the Kingdom. Under the 20-year agreements, SGP will develop, operate, and manage multi-purpose terminals on the East Coast, including King Abdulaziz Port in Dammam, Jubail Commercial Port, King Fahd Industrial Port in Jubail and Ras Al Khair Port, MAWANI said in a statement. On the West Coast, RSGT will handle the development, management and operation of multi-purpose terminals at Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port in Yanbu and Jazan Port. The contracts include investments in modernizing terminal infrastructure and equipment at King Fahd Industrial Port in Yanbu through upgrades that will feature RTG and STS cranes, reach stackers, and new trailer fleets, which is expected to improve truck turnaround times, reduce ship dwell periods, and enhance overall cargo handling efficiency. During the signing ceremony, Minister of Transport and Logistics Services and MAWANI's Chairman Saleh Al-Jasser said that the increased investments from the private sector reflect the attractiveness of Saudi ports and the logistics sector. He added that the sector is currently witnessing wide and diversified investments in infrastructure, driven by significant interest from leading global and national logistics companies.
Zawya
12 hours ago
- Business
- Zawya
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) (
Zawya
14 hours ago
- Business
- Zawya
Saudi Ports Authority signs $586mln privatisation contracts for cargo terminals
The Saudi Ports Authority (Mawani), in partnership with the National Centre for Privatisation and PPP, has signed build-operate-transfer (BOT) contracts worth more than 2.2 billion Saudi riyals ($586 million) for multipurpose cargo terminals at eight major ports across the Kingdom. The contracts were signed on Monday in the presence of Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics Services and Chairman of Mawani's Board of Directors, according to a Arabic language press statement posted by the Authority. Under the 20-year concession agreements, Saudi Global Ports (SGP), a part of Singapore-headquartered PSA group will develop, operate, and manage terminals on the East Coast, including: King Abdulaziz Port in Dammam Jubail Commercial Port King Fahd Industrial Port in Jubail Ras Al Khair Port SGP currenly operates both deepsea container terminals at King Abdulaziz Port Dammam. On the West Coast, Red Sea Gateway Terminal (RSGT) will handle operations at: Jeddah Islamic Port Yanbu Commercial Port King Fahd Industrial Port in Yanbu Jazan Port RSGT, which operates the container terminal at Jeddah Islamic Port, is a partnership between the Red Sea Gateway Terminal of Saudi Arabia and the Malaysian Mining Company (MMC) The contracts include investments in modernising terminal infrastructure and equipment. At King Fahd Industrial Port in Yanbu, upgrades will feature RTG and STS cranes, reach stackers, and new trailer fleets, which is expected to improve truck turnaround times, reduce ship dwell periods, and enhance overall cargo handling efficiency. (Writing by Majda Muhsen; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa
Arab News
11-03-2025
- Business
- Arab News
Saudi-run terminal in Chittagong expands as major hub for Bangladesh's foreign trade
DHAKA: Saudi developer Red Sea Gateway Terminal, which last year started operations at Bangladesh's largest port, plans further expansion as it already facilitates about 10 percent of the country's imports and exports. Chittagong Port is the busiest container port on the Bay of Bengal. Last year, it handled about 3.3 million TEU, or 20-foot equivalent units, serving as the main gateway for Bangladesh's ocean cargo import and export. RSGT, which in June last year started operations at Chittagong's Patenga Container Terminal, is the first foreign company operating Bangladeshi ports. According to its agreement with the Chittagong Port Authority, RSGT will run the terminal for the next 22 years. 'RSGT Chittagong operates 24/7, 365 days a year, ensuring seamless and uninterrupted service for the trade community … Our operations facilitate around 10 percent of Bangladesh's total imports and exports,' Erwin Haaze, CEO of RSGT Bangladesh, told Arab News on Monday. 'We manage all containerized shipments passing through Patenga Terminal efficiently, facilitating smooth trade for a diverse range of industries, from manufacturing to retail.' The company is steadily increasing the terminal's output and is expected to have a maximum annual capacity of 600,000 TEU. It also plans to more than double its permanent workforce. 'RSGT has plans to invest approximately $170 million in the RSGT Terminal. This investment has already created more than 300 permanent jobs, which are expected to increase to more than 700 when in full operation,' Haaze said. 'Regarding indirect employment, RSGT Chittagong is committed to growing with the community and has engaged with many local vendors to participate in different tasks in RSGT Chittagong. With further expansions, we anticipate generating even more job opportunities in the coming years.' Following the success of the Patenga Terminal, Saudi investors are exploring more opportunities in port-related sectors in Bangladesh, including the Matarbari Port — the country's first deep-sea port, which the government wants to build some 120 km south of the Chittagong Port. Saudi Ambassador to Dhaka Essa Al-Duhailan told Arab News that talks with the relevant authorities were already underway. 'The investment in Chottogram (Chittagong) Bay Terminal is between $300 million and $400 million, and the other one (Matarbari Deep Sea Port) will be maybe $700 million to $800 million,' he said. 'The intention is there, and the willingness is there. The excellent performance of the Saudi company, Red Sea Gateway, is already shown to the Bangladeshis and they are satisfied … The experience is encouraging so far.'
