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Saudi Arabia has pre-qualified 8 companies for bid for planned development projects at its Red Sea Port of Jeddah, the Port’s General Manager has said.
Majid Al-Arqoubi said the port management has studied offers by several firms for those projects which are intended to expand the port as part of a strategy by the Gulf Kingdom to expand its logistics sector within its “Vision 2030” economic diversification scheme.
“We have pre-qualified 8 local and foreign companies to carry out projects which we are planning at the Jeddah Islamic Port,” he told the Saudi daily Aliqtisadia.
The paper said Arqoubi spoke after launching phase 1 of a project to develop the Port’s Southern container terminal, which was awarded to DP World of Dubai in 2019.
It said the 4-phase project would be completed in 2024 and it involves expansion of berths and other facilities at the Port, one of the world’s largest container terminals.
In a recent report, the Saudi Ports Authority said it would offer investment opportunities at its ports to the private sector on the basis of build-operate-transfer (BOT) contracts as part of a plan to turn the Gulf Kingdom into a leading global logistics hub.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@refinitiv.com)
