The Saudi Ports Authority (Mawani) and the Saudi Global Ports (SGP) have signed an agreement to establish a fully-logistics park in Dammam at a total investment of 266 million USD.
The agreement was signed by Mawani President Omar Hariri and Saudi Global Ports Company CEO Edward Tah in the presence of Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy.
Hariri has affirmed that this new logistics park is part of the Mawani initiative to expand the number of logistics parks within Saudi ports to 12. This expansion is expected to elevate the kingdom’s position in the global logistics services performance index from its current 38th place to the 10th. Furthermore, it will solidify its regional leadership in logistics.
The new scheme aims to offer integrated logistics services and innovative solutions that align with its sustainability strategy. The park will include warehouses and yards equipped to store and handle all dry and refrigerated goods.
Al Jasser, who is also Chairman of the Board of Directors of Mawani, has stated that this recent agreement falls under both local and international private-sector investments.
This initiative aligns with the National Strategy for Transport and Logistics Services and Vision 2030.
These zones will be strategically located in the Jeddah Islamic Port, King Abdulaziz Port in Dammam, and King Fahd Industrial Port in Yanbu.
“This significant investment will not only lead to the creation of over 13,000 direct and indirect jobs within the logistics sector but it is also expected to trigger a major economic revival,” stated the minister.
“These initiatives are expected to bolster the gross domestic product, enhance international trade relations, improve multimodal transport connections, and foster growth in the logistics services industry,” he added.
‘Mawani’ has succeeded in attracting national and international investments and major logistics companies by signing several agreements to establish 11 logistics zones. The SGP operates two container terminals at King Abdulaziz Port in Dammam, a joint venture between the ‘Saudi Public Investment Fund’, the Singaporean ‘PSA International Company’, and Al Balagaa Group’.
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