Privatization Contracts Signed For Cargo Terminals At Eight Saudi Ports With SAR 2.2 Billion Investments

Saudi Arabia's Minister of Transport and Logistic Services, Saleh Al-Jasser, recently attended the signing of significant privatization contracts. These agreements involve the Saudi Ports Authority (Mawani) and the National Center for Privatization. The contracts focus on developing multipurpose cargo terminals at eight ports across the country. This initiative is part of a 20-year Build-Operate-Transfer (BOT) model with investments exceeding SAR2.2 billion from national partners Saudi Global Ports (SGP) and Red Sea Gateway Terminal.

The minister highlighted that these investments underscore the appeal of Saudi ports and the logistics sector, which are experiencing substantial infrastructure growth supported by national leadership. He emphasized that both international and local logistics companies are keen to invest in Saudi ports. Al-Jasser noted that recent advancements in operational efficiency, cargo handling, and maritime connectivity have been remarkable according to global standards.

Al-Jasser stated that the transport and logistics ecosystem will continue to enhance partnerships with private entities throughout the Kingdom. The new privatization contracts build on strategic alliances Mawani has formed with major national and international companies. These collaborations aim to strengthen the maritime transport sector, support economic diversification, and position Saudi Arabia as a global logistics hub in line with Vision 2030.

Under these contracts, SGP will develop, manage, and operate multi-purpose cargo terminals on the eastern coast. This includes King Abdulaziz Port in Dammam, Jubail Commercial Port, King Fahd Industrial Port in Jubail, and Ras Al-Khair Port. Meanwhile, Red Sea Gateway Terminal will handle similar responsibilities on the western coast at Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port in Yanbu, and Jazan Port.

The agreements for King Fahd Industrial Port in Yanbu include plans to boost container handling capacity using advanced STS and RTG cranes. Modern equipment such as reach stackers, trucks, and trailers will also be utilized. These enhancements aim to reduce truck turnaround time and vessel berth time significantly improving operational efficiency.

Al-Jasser reiterated that these developments align with the National Transport and Logistics Strategy's goals. They are designed to empower the maritime transport sector further while reinforcing Saudi Arabia's status as a pivotal logistics hub globally.

The ongoing efforts reflect a commitment to fostering a robust transport infrastructure that supports economic growth through strategic partnerships with both domestic and international stakeholders.

With inputs from SPA