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Int’l Companies Race over Investment, Partnership Deals for Saudi Ports

Int’l Companies Race over Investment, Partnership Deals for Saudi Ports

Monday, 20 June, 2022 - 08:45
DP World and the Saudi Ports Authority (Mawani) announced the signing of a 30-year agreement with an investment value of more than SAR 500 million ($133.33 million) to build a state-of-the-art, port-centric Logistics Park at the Jeddah Islamic Port, (Asharq Al-Awsat)

The Saudi Minister of Transport and Logistic Services and Chairman of the Board of Saudi Ports Authority Saleh Al-Jasser revealed that work is underway on several partnerships with the private sector to operate stations and marine services in Saudi ports.

Al-Jasser added that international transport line and container operators are racing to invest in Saudi Arabia’s logistics field.

According to the minister, there are investments in 59 of the Kingdom’s logistics areas. These areas cover seaports, land ports, and airports.

As for air transport, the sector is looking to expand its capacity from 100 million passengers to a whopping 330 million passengers, Al-Jasser told Asharq Al-Awsat.

Moreover, the Kingdom’s aviation sector will move from relying on a single carrier to having two strong air companies connecting Saudi Arabia to around 250 destinations worldwide.

Al-Jasser explained that Saudi Arabia is working to implement its national strategy for transport and logistics services.

The strategy covers all types of air, land, sea and rail transport, roads, and logistics services, and extends services to the Kingdom such as customs services, food, medicine, and other security measures.

Al-Jasser’s remarks were made during the signing ceremony of a new deal to establish a new fully integrated smart logistics park in Jeddah Islamic Port at an investment of over SR500 million ($133 million).

The Saudi Ports Authority (Mawani) on Sunday signed an agreement with DP World, a world leader in global supply chain solutions.

This is Mawani's fifth such deal following a series of agreements signed with local and global leading companies in maritime transport and logistics including Maersk, CMA CGM, LogiPoint and Bahri.

The agreement was signed by President of the Saudi Ports Authority Omar bin Talal Hariri and Group Chairman and CEO of DP World and Sultan Ahmed Bin Sulayem, in the presence of Al Jasser and several other leaders from the transport and logistics entity.

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