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Saudi Global Ports in charge at Dammam

News16 Apr 2020by Paul Avery

New BOT agreement with PSA joint venture company covers the the First and Second Container Terminals in the King Abdulaziz Port in Dammam.

Saudi Global Ports (SGP) has announced a new Build, Operate and Transfer (BOT) agreement with the Saudi Ports Authority (Mawani) covering the first and second terminals at King Abdulaziz Port in Dammam. The new agreement makes SGP the sole container terminal operator of the port and was signed between Mawani President H.E Eng. Saad Abdul Aziz AlKhalb and SGP Chairman Mr. Abdulla Al Zamil in a virtual ceremony.

SGP now intends to develop King Abdulaziz Port into a mega container hub, investing more than SAR 7 billion (2.6 billion Singapore Dollars) to increase its annual capacity to 7.5 million TEU on completion. SGP said this would be “the largest seaport investment by a single operator under a public private partnership”.

SGP plans to double capacity at Dammam to 7.5M TEU

“Under this agreement, SGP will invest and develop key infrastructure such as berths and container handling equipment, and will more than double the existing container handling capacity of King Abdulaziz Port in Dammam.” said H.E Eng. Saad, further adding that “the investments will focus on environmentally friendly and technologically sophisticated systems, including the adoption of automation to develop a modern Saudi workforce.”

Mr Tan Chong Meng, Group CEO of PSA International, said, “We would like to thank Mawani and the Kingdom for trusting PSA again to deliver another significant investment with the new BOT Agreement. PSA is committed to the Kingdom to support the transformation of King Abdulaziz Port into a global mega hub, with modern and robust infrastructure, and through the cultivation of a strong Saudi workforce. We would also like to thank our partners, customers and stakeholders for their continued support as we work together alongside towards a more efficient and resilient global supply chain.”