1. NEWS

  2. PORTS

  3. Saudi Global Ports Company takes over management of two other terminals
Saudi Global Ports Company takes over management of two other terminals

Saudi Global Ports Company takes over management of two other terminals

Saudi Global Ports Company (SGP), one of the subsidiaries of PSA International, will formally take over the management of both the first and second container terminals at King Abdulaziz Port Dammam (KAPD) in Saudi Arabia on 1 October 2020.

A+A-

Thus, SGP has been the sole operator of the deep-water hinterland port's container terminal. Following the signing of the 30-year Build, Operate and Transfer (BOT) agreement between Mawani and SGP on 13 April 2020, the effective transfer of the First Container Terminal from the Saudi Ports Authority (Mawani) to SGP was achieved in less than six months.

“I would like to express my gratitude to the management and working teams from Mawani and SGP for their close partnership. The smooth transition within a short timeline under the pandemic situation is phenomenal,” Abdulla Zamil, Chairman of SGP stated.

The move was described as a landmark event in the Saudi Vision 2030 to encourage the diversification of the Saudi economy by Saleh bin Nasser Al-Jasser, the Minister of Transport and Chairman of Mawani.

Mawani and SGP have worked closely on various activities since the signing of the BOT agreement, including retention of manpower, transfer of properties, port community participation and cooperation with stakeholders such as Tabadul and the Customs Authority. In addition to the transition of equipment from Mawani, in order to promote smooth operations at both terminals, SGP has advanced the procurement and commissioning of more than 200 new handling equipment units.

Specifically, both container terminals will be integrated into a mega container hub by SGP 's growth and modernisation plans. KAPD 's annual container handling capacity will increase to an estimated 7.5 million TEUs once the expected expansion works are completely completed.

An approximate total investment of over SAR 7 billion ($1.8 billion) by SGP is projected to be the largest seaport investment by a single operator in the Kingdom of Saudi Arabia under a public-private partnership.

Maritime Business World 

Previous and Next News

COMMENT ADD

WARNING: Do not use words containing insults, swearing and words against personal and religional beliefs. Comments containing capital letters will not be approved.