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Saudi, British Companies Seek to Explore Sustainable Partnerships

Participants in the Great Futures Initiative conference which was recently held in Riyadh (Asharq Al-Awsat)
Participants in the Great Futures Initiative conference which was recently held in Riyadh (Asharq Al-Awsat)
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Saudi, British Companies Seek to Explore Sustainable Partnerships

Participants in the Great Futures Initiative conference which was recently held in Riyadh (Asharq Al-Awsat)
Participants in the Great Futures Initiative conference which was recently held in Riyadh (Asharq Al-Awsat)

Several major national companies are participating in the UK-Saudi Sustainable Infrastructure Summit in London on June 24-26.

According to information made available to Asharq Al-Awsat, the Federation of Saudi Chambers is seeking to mobilize the largest possible number of companies specialized in sustainable infrastructure to explore partnerships with the United Kingdom in green construction, smart cities, and technologies.

The summit will address topics that touch on the importance of Saudi-British cooperation in developing and financing sustainable infrastructure and development of cities, in addition to green technology and renewable energy initiatives.

Trade Exchange

The event will be followed by a meeting of the sectoral working groups on June 25 and an evening celebration of the tenth anniversary of the British-Saudi Business Council. The Sports Investment Forum will be held on June 26.

The value of trade exchange between Saudi Arabia and Britain exceeded 17 billion pounds ($21 billion), while the two countries aim to increase the volume of bilateral trade to $37.5 billion by 2030.

In May, Riyadh hosted the Great Futures conference, one of the initiatives of the Saudi-British Strategic Partnership Council, which is chaired by Saudi Crown Prince Mohammed bin Salman and UK Prime Minister Rishi Sunak.

The conference sought to strengthen economic relations in several promising sectors, in addition to developing trade and mutual investment.

The two kingdoms explored opportunities through 60 initiatives in 13 sectors that enhance economic, trade and investment partnerships in all fields.

Speaking at the event in May, Saudi Minister of Commerce Dr. Majid Al-Qasabi said that the United Kingdom is the second largest exporter of services in the world, and that his country has promising opportunities and a will to diversify the economy.

He added that joint cooperation between the two countries covers various fields, with a focus on the commercial, financial, digital, cultural, educational and health sectors, as well as sports, tourism and entertainment.

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Saudi Arabia Signs New Port Contracts Worth Over $586 Million

Acting President of Mawani Mazen Al-Turki (Asharq Al-Awsat) 
Acting President of Mawani Mazen Al-Turki (Asharq Al-Awsat) 
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Saudi Arabia Signs New Port Contracts Worth Over $586 Million

Acting President of Mawani Mazen Al-Turki (Asharq Al-Awsat) 
Acting President of Mawani Mazen Al-Turki (Asharq Al-Awsat) 

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.