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Saudi Global Ports to spend US$1.87 billion on expanding King Abdulaziz
来源：shippingazette.com 编辑：编辑部 发布：2020/04/18 10:32:27
PSA International joint venture Saudi Global Ports (SGP) is the new the container terminal operator at King Abdulaziz port in Dammam after signing a new build, operate and transfer (BOT) agreement.
The new BOT inked in a virtual signing ceremony between SGP and Saudi Ports Authority (Mawani) sees the joint venture taking over operations of both the first and second container terminals at the port.
This paves the way for the container terminal operator to be transformed it into a major container hub port with an annual capacity of 7.5 million TEU. The joint venture will invest some SAR7 billion (US$1.87 billion) in the modernisation development and expansion programme, reported Colchester's Sea trade Maritime News.
"Under this agreement, SGP will invest and develop keas berths and container handling equipment, and will more than double the existing container handling capacity of King Abdulaziz port in Dammam," said Saudi Transport Minister Eng Saad.
"The investments will focus on environmentally-friendly and technologically sophisticated systems, including the adoption of automation to develop a modern Saudi workforce," he said.
PSA International CEO Tan Chong Meng said: "PSA is committed to the kingdom to support the transformation of King Abdulaziz port into a global mega hub, with modern and robust infrastructure, and through the cultivation of a strong Saudi workforce."
SGP is 51 per cent owned by Saudi's Public Investment Fund (PIF).
The new BOT inked in a virtual signing ceremony between SGP and Saudi Ports Authority (Mawani) sees the joint venture taking over operations of both the first and second container terminals at the port.
This paves the way for the container terminal operator to be transformed it into a major container hub port with an annual capacity of 7.5 million TEU. The joint venture will invest some SAR7 billion (US$1.87 billion) in the modernisation development and expansion programme, reported Colchester's Sea trade Maritime News.
"Under this agreement, SGP will invest and develop keas berths and container handling equipment, and will more than double the existing container handling capacity of King Abdulaziz port in Dammam," said Saudi Transport Minister Eng Saad.
"The investments will focus on environmentally-friendly and technologically sophisticated systems, including the adoption of automation to develop a modern Saudi workforce," he said.
PSA International CEO Tan Chong Meng said: "PSA is committed to the kingdom to support the transformation of King Abdulaziz port into a global mega hub, with modern and robust infrastructure, and through the cultivation of a strong Saudi workforce."
SGP is 51 per cent owned by Saudi's Public Investment Fund (PIF).