Saudi Global Ports and SANY Heavy Industry Sign Contract to Manufacture, Supply 80 Electric Trucks

The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials. Asharq Al-Awsat
The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials. Asharq Al-Awsat
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Saudi Global Ports and SANY Heavy Industry Sign Contract to Manufacture, Supply 80 Electric Trucks

The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials. Asharq Al-Awsat
The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials. Asharq Al-Awsat

The Saudi Ports Authority (Mawani) announced the signing of a contract between the Saudi Global Ports (SGP) and SANY Heavy Industry, the leading Chinese manufacturer of heavy equipment, to supply King Abdulaziz Port in Dammam with 80 electric trucks.

It is the largest single contract signed by SANY to manufacture and supply electric trucks, making King Abdulaziz Port the largest port in the Middle East that owns this number of electric trucks.

The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials on the sidelines of "Transport Logistic China 2024."

Mawani President Omar bin Talal Hariri said that the signing of the contract contributes to the development of King Abdulaziz Port in Dammam to be a flexible and sustainable logistics center and a leading model of operational excellence and logistical efficiency.



Total Revenues at Saudi PIF More Than Double to $88.5 Billion

PIF headquarters in Riyadh. Asharq Al-Awsat
PIF headquarters in Riyadh. Asharq Al-Awsat
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Total Revenues at Saudi PIF More Than Double to $88.5 Billion

PIF headquarters in Riyadh. Asharq Al-Awsat
PIF headquarters in Riyadh. Asharq Al-Awsat

Saudi Arabia's sovereign wealth fund PIF swung to a profit of 138.1 billion riyals ($36.81 billion) in 2023, it said on Monday.

Total revenues at the Public Investment Fund more than doubled to $88.5 billion last year from $44 billion in 2022, according to a regulatory filing.

The rise in revenues was driven by factors including an improvement in both investment and non-investment activities in sectors like banking, telecommunications and gaming, as well as increased dividends.