Private sector investments in sea ports reach SR5.5bn

The volume of private sector investment in Saudi sea ports reached SR5.5 billion, while revenues exceeded SR3 billion annually, according to local media quoting a report released by the Sea Ports Authority (SPA).
The SPA recently signed about 30 contracts with the private sector firms on container, general cargo and bulk grain terminals, as well as chilled and frozen goods, marine and ship repair services, and the re-export zones, the report said.
Many of the terminals at the Saudi ports are managed, operated and maintained by partnerships between the Saudi private sector and international companies specialized in the work of the ports, according to the report.
The SPA was keen to create a climate for the private sector to invest in service projects and support activities within the ports and the surrounding areas to gain commercial nature and achieve sensible profits, it said.
Meanwhile, the number of berths is currently 208 while another 20 berths are under construction and four under awarding stage on the eastern and western coasts of the Kingdom.
The ports included Jeddah Islamic Port, King Fahd Industrial Port in Yanbu, Yanbu Commercial Port, Port of Jazan, Dhaba Port on the west coast, King Abdul Aziz Port in Dammam, King Fahd Industrial Port in Jubail, Jubail Commercial Port, and Ras El Khair Port on the east coast.
These berths are fitted with the latest modern technology in the world of ports, and takes in all types and sizes of ships with ability to handle all types of materials and goods, such as the petrochemical and industrial products, refined petroleum transit and re-export, and food and consumer goods, construction materials and raw materials.
The total cargo handled in 2012 amounted to 188 million tons, and the latest port revenues amounted at SR4.03 billion by the end of the year 2012 with a surplus of SR1.8 billion, the report said.