DUBAI- Major port operator DP World has been awarded a 30-year concession deal by the Saudi Ports Authority (Mawani), for the management and development of the Jeddah South Container Terminal at the multi-purpose Jeddah Islamic Port, the government of Dubai said in a statement on Monday.

"Under the agreement, DP World will invest up to $500 million to improve and modernise the Jeddah Islamic Port, including major infrastructure development to enable the port to serve ultra-large container carriers," the statement said.

(Reporting by Tuqa Khalid; editing by Jason Neely) ((Tuqa.Khalid@thomsonreuters.com; +971521047568;))