Saudi Ports Authority (Mawani) has signed a contract with Saudi Global Ports (SGP) for the build and operation of container terminals at the King Abdul Aziz Port in the city of Dammam, the eastern province of Kingdom of Saudi Arabia.
The value of the contract is $1.86 billion.
As part of the 30-year agreement, SGP will build, operate, and transfer (BOT) the container terminals.
The port provides extensive operational services. It has a modern handling instrument that enables the port to handle several types of cargo. It comprises two advanced container terminals, one refrigerated cargo terminal, two general cargo terminals, two cement plants: one for exporting black cement and clinker and one for white cement, bulk corn terminal, Iron ore handling terminal, naval vessel manufacture area and gas, and oil platform.
The seaport contains a ship renovate a facility that comprises two floating ship ports to accommodate ships up to 215meters long.
Upon assuming the responsibility of leading both container terminals, SGP will begin on a development and modernization program to transform King Abdulaziz seaport into a mega container hub and increase the port’s efficiency to estimated yearly handling capacity of 7.5 million 20-ft equivalent units (TEUs) when the planned spread works are fully completed.
Under this contract with SGP, Mawani will invest and develop key infrastructures like berths and container handling instrument, and more than double the current container handling capacity of King Abdulaziz seaport in Dammam.