Saudi Arabia’s Mawani signs 7bn riyals deal with SGP for Dammam port – The National

Saudi Arabia’s Mawani signs 7bn riyals deal with SGP for Dammam port – The National

Saudi Arabia's Mawani signs 7bn riyals deal with SGP for Dammam port. The deal with a company backed by Saudi sovereign wealth fund will help double the container handling capacity at King Abdulaziz Port. Saudi Ports Authority (Mawani) signed a 7 billion Saudi riyal (Dh6.85bn) deal with a company backed by the kingdom's sovereign wealth fund to develop new container terminals at the King Abdulaziz Port in Dammam.. Saudi Arabia aims to spend 100bn riyals through NIDLP on expanding the country's industrial base to attract 1.6 trillion riyals in investment by 2030.. Saudi Arabia, the biggest Arab economy, is undertaking a slew of measures to help boost the contribution of the non-oil sector to the economy under Vision 2030, its overarching road map for the kingdom's economic overhaul.. Riyadh plans to boost the country's private sector's contribution to the economy to 65 per cent of gross domestic product by 2030, from about 40 per cent.. The new BOT deal at King Abdulaziz Port follows on from a previous agreement Mawani signed in December with Dubai's DP World to develop container terminals at Jeddah Islamic Port, which will see 9bn riyals invested, Saad Al Khalb, president of Mawani, said.. Under the