Singapore company invests in container terminals in Saudi Arabia
Saudi Global Ports (SGP), a subsidiary of Singapore's PSA International, and Saudi Ports Authority (Mawani) on April 13 inked an agreement worth 2.6 billion SGD (1.84 billion USD) to build two container terminals at the King Abdulaziz Port in Saudi Arabia’s Dammam.
King Abdulaziz port. (Photo: Seatrade-maritime.com)
Singapore (VNA) - Saudi Global Ports (SGP), asubsidiary of Singapore's PSA International, and Saudi Ports Authority (Mawani)on April 13 inked an agreement worth 2.6 billion SGD (1.84 billion USD) tobuild two container terminals at the King Abdulaziz Port in Saudi Arabia’s Dammam.
ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ The agreement, in the form of Build, Operate and Transfer(BOT), will make SGP the sole container terminal operator of the Saudi Arabianport.
Under the deal, SGP will develop the port into a megacontainer hub and increase its annual handling capacity to an estimated 7.5million TEUs. SGPcurrently operates a container terminal located along the eastern coastline ofKing Abdul Aziz Port, which is an important deep-water hinterland port in theArabian Gulf serving the major provincial cities in the eastern and centralprovinces of Saudi Arabia./.
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King Abdulaziz port. (Photo: Seatrade-maritime.com) 
