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26 October 2020 The on-line newspaper devoted to the world of transports 14:50 GMT+1

October 6, 2020

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Original news
Saudi Global Ports has taken over traffic management containerized in the Saudi port of Dammam

The company is a joint venture between Public Investment Funds and PSA

Effective October 1st, Saudi Global Ports Company (SGP), a joint venture between the Saudi Public Investment Fund (PIF) and the PSA Terminalist Group in Singapore, has taken over the management of the first and second container terminals of King Port Abdulaziz of Dammam becoming the only terminalist in the container of the Saudi port (previously the first terminal was operated by the International Port Services, which is controlled by the Hutchison Ports Holdings). SGP operates the two terminals as part of the 30-year concession contract signed April 13th.

SGP's investment plan, worth more than seven billion riyals (1.8 billion U.S. dollars), plans to increase the containerized traffic capacity of the Saudi port 7.5 million teu per year. Container traffic in 2019 1.82 million teu, with a 18.2% year-on-year increase. In the first eight months of 2020 container traffic at the Saudi port airport 1.21 million teu, down -1.9% on January-August period last year.

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