DP World, Saudi Ports Authority sign 30-year agreement worth Dh490 million

DP World, Saudi Ports Authority sign 30-year agreement worth Dh490 million

Parties agree to build state-of-the-art, port-centric Logistics Park at Jeddah Islamic Port

Published: Sun 19 Jun 2022, 3:26 PM

DP World and the Saudi Ports Authority (Mawani) on Sunday signed a 30-year agreement to build a state-of-the-art, port-centric Logistics Park at the Jeddah Islamic Port.

The agreement, with an investment value of more than Dh490 million ($133.4 million), aims to establish a 415,000 square-metre 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 square metres. Future expansions could increase the storage space to 200,000 square metres.

The agreement was signed under the patronage of Engineer Saleh bin Nasser Al-Jasser, Saudi Arabia’s Minister of Transport and Logistic Services and Chairman of Mawani.

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; 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 logistics solutions to the Kingdom of Saudi