Jul 06 2011 |
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Saudi Arabia Awards Concession To Build SAR2B Container Terminal
Wednesday, Jul 06, 2011
RIYADH (Zawya Dow Jones)-- Saudi Ports Authority , or SPA , said Wednesday it awarded a concession to develop, operate and manage the second container terminal at King Abdul Aziz Port, which will cost about 2 billion Saudi riyals ($533.3 million).
The 30-year contract was awarded to a joint venture between Singapore port operator PSA International and Saudi Arabia's Public Investment Fund , SPA said in a statement posted on its website.
The new terminal in Dammam will have a capacity for 1.5 million containers, which will lift the port's total capacity to 3 million containers. The project will be completed in three years, and is part of a bigger plan to develop the infrastructure of the kingdom's ports.
Saudi Arabia, which imports the bulk of its food needs, handles some 12,000 ships annually, more than one ship an hour. The Gulf state aims to create an independent company that will manage the kingdom's ports under a gradual privatization process.
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
06-07-11 1052GMT
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Comments By Our Users (1)
Dear Sir,
Is there any possibility to know what is the scope of the work, in pother terms what does the project include in terms of civil, mechanical, electrical ... and if possible the budgets for each.
best regards
thank you in advance
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