06 January 2011
JEDDAH: The Arabian Industrial Fibers Company (Ibn Rushd) has rented 76,875 square meters of land for 30 Hijri years at King Fahd Industrial Seaport (KFIS) in Yanbu at a cost of SR2 per a square meter. The space will be used to build a warehouse complex for the storage of chemicals. On behalf of the chairman of the Saudi Ports Authority (SPA) Abdul Aziz ibn Nasser Al-Tuwaijri, KFIS Director-General Hamoud ibn Abdou Al-Saadi signed the contract with a representative from Ibn Rushd, which is a subsidiary of SABIC (Saudi Basic Industries Corp.).
JEDDAH: The Arabian Industrial Fibers Company (Ibn Rushd) has rented 76,875 square meters of land for 30 Hijri years at King Fahd Industrial Seaport (KFIS) in Yanbu at a cost of SR2 per a square meter. The space will be used to build a warehouse complex for the storage of chemicals. On behalf of the chairman of the Saudi Ports Authority (SPA) Abdul Aziz ibn Nasser Al-Tuwaijri, KFIS Director-General Hamoud ibn Abdou Al-Saadi signed the contract with a representative from Ibn Rushd, which is a subsidiary of SABIC (Saudi Basic Industries Corp.).
Speaking after the signing ceremony, Al-Saadi said the port is expanding its storage facilities facilities. "This will enable the industrial companies to export their products easily since the warehouses are inside the port," he said.
The port handled more than 86 million tons of goods during the year 2010 with an increase of seven percent over the previous year.
© Arab News 2011
