https://arab.news/6rkkc
- Investments will equip ports with container, bulk cargo and passenger facilities
- Eight ports include Jeddah Islamic, King Abdulaziz in Damman
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.
No figure was given for the size of the financial investment required to build the terminals.
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.
“Transport and logistics are a major focus of the programs of the Kingdom’s Vision 2030 and a vital enabling factor for economic sectors toward sustainable development,” Crown Prince Mohammed Bin Salman said at the launch of the National Transport and Logistics Strategy on July 1.
He added that areas covered by the strategy include the development of infrastructure, the launch of a number of platforms and logistics zones in the Kingdom, the implementation of advanced operating models and systems, and the building and enhancement of effective partnerships between the government and the private sector.