UAE Gulftainer's subsidiary announces $50mln expansion plan in Saudi

Investment to help improve handling capacity of Jubail Commercial Port

  
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.

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UAE-based Gulftainer’s subsidiary in Saudi Arabia, Gulf Stevedoring Contracting Company (GSCCO), unveiled on Tuesday a major expansion plan worth $50 million. 

The initiative, which includes installation of new equipment and “additional assets”, is expected to further improve the handling capacity of Jubail Commercial Port (JCP) on Saudi Arabia’s east coast. 

“These improvements are projected to contribute to Jubail’s GDP by more than $100 million,” a statement said. 

“The recent initiative is in line with the National Ports and Logistic Development Program and the Saudi 2030 Vision’s third pillar covering container and general cargo ports, ro-ro operations, logistics and bonded re-export zones.” 

GSCCO is currently hiring and training young Saudi nationals for key positions and revamping the port’s IT system to improve export and import operations.  

It has also increased the handling capacity of the port by up to 1.8 million twenty-foot equivalent units (TEUs) with the arrival of three quay cranes, five rubber tyre gantries and 18 reefer gantries. 

Since 2008, the Gulftainer subsidiary has collaborated with Saudi authorities and developed the Jubail port, increasing its capacity from 50,000 TEUs to 700,000 TEUs, prior to the new investment. 

GSCCO is one of the major port operators in Saudi Arabia. In 2013, it became part of Gulftainer, a privately owned port management and 3PL logistics company based in the UAE. 

(Writing by Cleofe Maceda; editing by Daniel Luiz) 

Cleofe.maceda@refinitiv.com 

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