In a remote ‘virtual’ signing ceremony, The Saudi Ports Authority (Mawani) has awarded the country’s biggest Build, Operate and Transfer (BOT) agreement to date to Saudi Global Ports (SGP), which will develop and expand container terminals in King Abdulaziz Port in Dammam.
SGP, a joint venture involving the Saudi Public Investment Fund and PSA International of Singapore, already operates Dammam’s newest container terminal, but will now take on responsibility for all container terminal facilities in the Gulf port, pledging investments totalling SR 7 billion over a 30 year period. The agreement provides for an increase in capacity to 7.5 million teu a year across the port and is expected to create an additional 4000 jobs in the ports and logistics sectors.
SGP will develop new berths and buy additional container handling equipment to more than double existing container handling capacity at Dammam. The investments will focus on environmentally friendly and technologically sophisticated systems, including automation.
