DP World, Saudi Ports Authority sign agreement to build Jeddah Logistics Park

DP World, Saudi Ports Authority sign agreement to build Jeddah Logistics Park

In a move aimed at boosting regional development and sharing experience, DP World and the Saudi Ports Authority (Mawani) signed a 30-year agreement on Sunday to build a state-of-the-art, port-centric Logistics Park at the Jeddah Islamic Port, the Emirates News Agency (WAM) reported.The agreement, with an investment value of more than Dh.490 million ($133.4 million), aims to establish a 415,000 sq. meter logistics park with an in-land container depot capacity of 250,000 TEUs (Twenty-foot Equivalent Units) and a warehousing storage space of 100,000 sq. meters. Future expansions could increase the storage space to 200,000 sq. meters.For the latest headlines, follow our Google News channel online or via the app.

The signing ceremony was attended by Omar Bin Talal Hariri, President of Mawani; Sheikh Nahyan bin Saif al-Nahyan, UAE Ambassador to the Kingdom of Saudi Arabia; Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World; Mohammad Alshaikh, CEO DP World Saudi Arabia.

Those present included the Saudi Minister of Transport and Logistic Services and Chairman of Mawani Eng. Saleh Al Jasser, and a delegation of senior Saudi government officials, as well as representatives from DP World’s leadership team.The purpose-built logistics park will expand DP World’s regional footprint and bring pioneering multi-modal