Saudi Global Ports (SGP) will build and operate a new 7.5 million TEU container terminal in the Saudi port of King Abdulaziz in Dammam. The agreement was signed a few days ago between the company and the local Port Authority. SGP, a joint venture between a Saudi Arabian public investment fund and PSA International, will invest 1.9 billion dollars to build the infrastructure.
“Thanks to this agreement, SGP will invest and develop a key infrastructure for the country, which will more than double the current capacity of the port of KING Abdulaziz in Dammam,” said the Saudi Transport Minister, H. E. Eng. Saad. He added: “The investments will focus on environmentally friendly and technologically sophisticated systems, including the adoption of automation to develop a modern workforce.”
Translation by Giles Foster