UAE’s DP World has been assigned a 30-year Build-Operate-Transfer reduction for the management and development of the Jeddah South Container Terminal at the multi-purpose Jeddah Islamic Port.
The project has been assigned by the Saudi Ports Authority Mawani.
As per the contract, DP World will invest up to $500 million to rebuild and innovate the Jeddah Islamic Port. This will comprise major infrastructure development to enable the Port to serve the ultra-large container carriers, which ponder the world’s largest mega containerships. The signing celebration was attended by Makkah’s Acting Governor, HRH Prince Badr bin Sultan bin Abdul Aziz Al Saud, H.E Engineer Saleh bin Naser Al Jasser, Minister of Transport and Mawani’s Chairman of the Board, H.E Bandar Alkhorayef, Minister of Industry and Mineral Resources, HE Saad Al Khalb, President of Mawani and HE Sheikh Shakbout bin Nahyan Al Nahyan, UAE Ambassador to KSA. founded in 1976, the Jeddah Islamic Port is on the red sea and the largest port in the Kingdom of Saudi Arabia with an annual capacity of all over 6 million twenty-foot equivalent units (TEU’s) As an important link on the worlds engage east-west trade path and the Kingdom’s main commercial centers, the Port currently handles around 60% of the country’s sea-imports and is a strategic hub that links East-West cargo. The reduction will also be helpful in facilitating the smooth and efficient movement of shipment and a greater approach to local and international markets. DP World has operated the South Container Terminal on a lease contract for more than 20 years. As the main business location for Saudi Arabia and one of the Kingdom’s major port privatization projects, the new terminal will also have an upgraded efficiency of 3.6million TEU up from 2.4million TEU, to obtain the required growth demands of the future, and will provide 1,400 jobs.