Riyadh, Saudi Arabia — The General Ports Authority (MAWANI) and Saudi Global Ports (SGP) signed a contract to establish an integrated logistics zone in Dammam-based King Abdulaziz Port, at an investment value of SAR 1 billion ($266 million).
The zone will span over one million square meters, MAWANI said in a statement.
It added that the zone will provide major logistics services, unique solutions, integrated services, and environmental systems, including warehouses and yards to store and handle all types of dry and refrigerated goods, according to Argaam.
It will also include a warehouse and re-export area to provide sorting, regional distribution, and value-added operations.
SPG will operate the two container terminals at King Abdulaziz Port. It is a joint venture between the Public Investment Fund, Singapore’s PSA International, and Al Blagha Group, Argaam reported.
Saleh Al-Jasser, Minister of Transport and Chairman of MAWANI, said this agreement is part of a package of local and international private sector investments, to establish several top-performing logistics zones.
The deal aims to enhance the efficiency of the logistics sector, improve the level of services provided, boost the handling activity, and create more job opportunities in the logistics services sector.