عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Mawani Expands Jeddah Islamic Port Connectivity with MER1 Shipping Service

Mawani Expands Jeddah Islamic Port Connectivity with MER1 Shipping Service
TT
TT

Mawani Expands Jeddah Islamic Port Connectivity with MER1 Shipping Service

Mawani Expands Jeddah Islamic Port Connectivity with MER1 Shipping Service

The Saudi Ports Authority (Mawani) has added the Middle East Red Sea 1 (MER1) shipping service to the Jeddah Islamic Port through a strategic partnership between CStar Line and UGL.
The addition will expand the Kingdom's maritime connectivity with the Middle East, the countries bordering the Red Sea, and Horn of Africa.
The launch of MER1 is part of Mawani's endeavors to improve Saudi Arabia's position in the global maritime network, increase ports operational efficiency, and strengthen connections with international markets. This ultimately supports export and import activities, contributing to the National Transport and Logistics Strategy's goal of establishing Saudi Arabia as a leading global logistics hub, SPA reported.
The new shipping service connects Jeddah Islamic Port with key ports in India, UAE, Djibouti, and Yemen. With a capacity of 1,600 TEUs, MER1 will further bolster trade and economic relations between Saudi Arabia and these countries.

Most Viewed

 
 
Business

Saudi Fund for Development Finances 3 Development Projects in Serbia Worth $205 Million

The agreements cover three projects - SPA
The agreements cover three projects - SPA
TT
TT

Saudi Fund for Development Finances 3 Development Projects in Serbia Worth $205 Million

The agreements cover three projects - SPA
The agreements cover three projects - SPA

The Saudi Fund for Development (SFD) has signed three development loan agreements with the Republic of Serbia worth $205 million to fund key projects supporting the agriculture, education, and energy sectors, according to an SFD press release issued today.
This partnership, marking the SFD’s first presence in Serbia, is aimed at fostering the country’s long-term socioeconomic growth. The agreements cover three projects: $75 million for the Strengthen Irrigation Infrastructure in Different Areas Project, $65 million for the Construction of the Bio4 Campus in Belgrade Project, and $65 million for the Development of Transmission System Operator (Phase 1) Project, SPA reported.
Deputy Prime Minister and Minister of Finance of Serbia Siniša Mali stated: “We are grateful for the support. The projects for which this money is intended will contribute to the creation of new jobs, strengthening of our economy, and better positioning of the Republic of Serbia in the world scientific community.”
He added: “The agreements will also reinforce the long-term partnership between the Republic of Serbia and the Kingdom of Saudi Arabia and contribute to the implementation and development of important projects in our country.”
CEO of the SFD Sultan Al-Marshad said: “Supporting sustainable development through strategic funding in infrastructure and education is central to our mission.”
According to the release, the SFD is committed to supporting sustainable development globally. As the official development arm of the Kingdom of Saudi Arabia, the SFD has financed more than 800 projects in over 100 countries, with total funding of $20 billion. In 2024, the SFD celebrated 50 years of advancing global development, with recent expansions into 11 new countries, including Serbia.