Saudi Ports Authority to invite private sector to build 8 new terminals

Investments will equip ports with container, bulk cargo and passenger facilities

  
Image used for illustrative purpose. Container ship in import export and business logistic.

Image used for illustrative purpose. Container ship in import export and business logistic.

Getty Images
 
RIYADH: The Saudi Ports Authority (Mawani) has announced investment opportunities in partnership with the private sector to develop and operate multi-purpose terminals in eight of the nation’s ports.

The opportunities are in the form of build-operate-transfer (BOT) contracts for terminals in Jeddah Islamic Port, King Abdulaziz Port in Dammam, Ras Al-Khair Port, Jizan Port, Yanbu Commercial Port, King Fahad Industrial Port in Jubail, King Fahad Industrial Port in Yanbu, and Jubail Commercial Port, Mawani said in a statement on Thursday.

The initiative aims at equipping the ports to serve various functions including containers, general cargo, bulk cargo, RoRo cargo, passengers, and livestock.

The investments align with the Vision 2030 objectives aimed at making the Kingdom a leading global logistics platform and a connecting hub for the three continents.

Transport and logistics will contribute 10 percent of Saudi GDP by 2030, up from 6 percent today, following the implementation of the Kingdom’s new strategy for the sector, Minister of Transport Saleh Aljasser said on Tuesday.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Business