Home Construction Mawani starts operation, development of container terminals at King Abdulaziz Port

Mawani starts operation, development of container terminals at King Abdulaziz Port

Saudi Ports Authority (Mawani) announced the actual execution of the largest BOT agreement in Saudi Arabia to operate and develop the container terminals at King Abdulaziz Port in Dammam.

The agreement, which was signed last April with Saudi Global Ports Company (SGP), is the largest investment in marine ports by a single operator, under public-private partnership (PPP) in the Kingdom, Mawani added in a statement.

Under the agreement, SGP will assume, starting from Oct. 1, 2020, the management of both the first and second container terminals upon their consolidation in King Abdulaziz Port; thus, becoming the largest smart container handling terminal in the Middle East.

The first container terminal was handed over by Mawani to SGP in less than six months following the signing of the BOT agreement between both parties.

Upon completion of planned expansion works, the new contract award will contribute to increasing the annual handling capacity in King Abdulaziz Port to 7.5 million TEUs, an increase of more than 120%.

The 30-year, BOT agreement was signed between Mawani and SGP last April, which is owned by the Public Investment Fund and PSA Group, at a total investment of more than SAR 7 billion, according to Argaam data.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Car Insurance Company in Saudi Arabia

SALAMA Comprehensive This is a conventional product. This plan includes GCC cover. This plan includes personal accident cover. There...

how much is car insurance in Dubai

How to Estimate the Cost of Car Insurance in Dubai? There are more than 10 different insurance companies...

Top 10 Best Car Insurance Companies In Dubai – UAE

There are two types of insurance policies: comprehensive insurance which covers losses arising from theft, fire, or accidents, and third party insurance...

SNOC begins gas production at Mahani field in Sharjah

Sharjah National Oil Corporation (SNOC) and its partner Italian oil major Eni have pulished the start-up of Mahani-1 gas well, marking the...