The international maritime assembly held in Dammam, Saudi Arabia, over the course of two days, shed light on the immense potential possessed by the maritime shipping and logistics sectors in the Kingdom and Gulf Cooperation Council (GCC) countries.
The “Saudi Maritime Congress,” in its fourth edition, concluded its events on Thursday with the signing of two memoranda of understanding between national and international institutions.
The first MoU was signed between the Saudi-listed National Shipping Company of Saudi Arabia (Bahri) and SAIL, a Saudi Investment Recycling Company (SIRC) subsidiary.
The memorandum of understanding aims to foster cooperation in sustainable maritime shipping, environmental protection, and the enhancement of sustainability practices within the maritime industry.
This collaboration between the two institutions embodies their shared vision to transform the maritime shipping sector into a more sustainable and environmentally friendly industry.
The second MoU was signed between the Saudi Ports Authority (MAWANI) and SIRC to advance maritime sustainability in the Kingdom.
This collaboration, focused on enhancing environmentally responsible practices in the maritime sector, represents a significant milestone in advancing sustainable development and supporting the goals of Saudi Arabia’s “Vision 2030.”
The agreement underscores the commitment of both parties to environmental protection and the promotion of resource efficiency and circular economy principles within the maritime sector.
Abdullah Bin Damithan, CEO & Managing Director of DP World, told Asharq Al-Awsat that investments in the Islamic Port of Jeddah (located in the western part of the Kingdom) have reached approximately $800 million over a 30-year period, with expectations for the project’s completion in the coming year.
The agreement, which was signed in June of the previous year, entails the establishment of a logistics zone spanning 415,000 square meters, capable of accommodating 250,000 standard containers and featuring warehouses covering 100,000 square meters.
This zone will provide advanced and eco-friendly electronic services.