A joint-venture company, Saudi Global Ports LLC (SGP), formed between the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia and PSA International (PSA) has been awarded the concession to develop, operate and manage the second container terminal in the King Abdul Aziz Port in Dammam, a key gateway port on the Arabian Gulf.
The SGP terminal will be equipped with the latest equipment and technology to serve the fast growing economy of the Kingdom and the regional economies of the Arabian Peninsula and transform Dammam into a preferred port of call. Ideally located close to Saudi Arabia’s economic
centre and capital city Riyadh, it is linked by existing railway network and excellent highways to the rest of the country.
“We welcome PSA International as a new, strong private sector partner in rendering internationally leading port services for the Middle East’s biggest economy,” said H.E. Abdul Aziz Al-Tuwaijri, President of the Saudi Ports Authority. “The Public Investment Fund’s joint venture with PSA International is the first investment by PIF in ports infrastructure in the Kingdom of Saudi Arabia. PIF is pleased to partner with PSA
International, a leading and renowned port group, to develop and operate this important container terminal project in Dammam,” said Mr Mansour Al Maiman, Secretary General of Public Investment Fund.
“Dammam represents PSA International’s first port infrastructure project in the Kingdom of Saudi Arabia and the Arabian Gulf. We will work closely with our partner and Saudi Ports Authority to transform the Saudi Global Ports terminal into the preferred port of call to support the high trade growth and business activities in the region,” said Mr Eddie Teh, Group CEO, PSA International.
The King Abdul Aziz Port in Dammam is the largest Gulf port in the Kingdom of Saudi Arabia. When the new SGP terminal is fully built up and developed, it will have a quay length of 1,200 metres and 12 quay cranes, with a design capacity of 1.8 million teus per annum.