Saudi’s Mawani signs $240mln port infrastructure development deals

Saudi’s Mawani signs $240mln port infrastructure development deals

Saudi Arabia - The Saudi Ports Authority (Mawani) has signed seven contracts and MoUs worth over SR900 million ($240 million) with both partners from the public and private sectors at the ongoing Saudi Maritime Congress being held in Dammam under the patronage of Prince Ahmed bin Fahd bin Salman, Deputy Governor of Eastern Province.

These include deals for establishment of a new integrated logistics park at Jeddah Islamic Port, development of infrastructure as per global standards and aso for setting up new ports’ management system, reported SPA.

With these deals, Mawani aims to achieve complete transformation in the process of operations and logistical support at Saudi ports, in line with initiatives assigned to the Authority within the Saudi Vision 2030 program, and to fulfill the objectives of the National Transport and Logistics Strategy (NTLS) to position Saudi Arabia as a global logistics hub.

The first contract signed was with Globe Group to build an integrated logistics park and a re-export zone at Jeddah Islamic Port over an area of 135,000 sq m, which will fetch vast employment opportunities for locals and enable national companies specialized in the logistics industry to set up base.

The second contract was signed with PC Marine Services for SR458