PSA International partners with Saudi Arabia to develop new Dammam container terminal
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Saudi Global Ports LLC will develop, manage and operate the second container terminal in the King Abdul Aziz Port in Dammam, Saudi Arabia.
Saudi Global Ports LLC (SGP) has won the concession to develop, manage and operate the second container terminal in the King Abdul Aziz Port in Dammam, Saudi Arabia.
SGP is a joint-venture company made up of Singapore-based terminal operator PSA International and the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia.
Upon complettion, the new SGP terminal will have a quay length of 1,200 metres and 12 quay cranes, with a design capacity of 1.8 million TEUs per annum.
The new terminal is part of Saudi Arabia's US$613 million investment project to expand and improve the infrastructure of the country's ports.
“Dammam represents PSA International's first port infrastructure project in the Kingdom of Saudi Arabia and the Arabian Gulf," said Mr Eddie Teh, Group CEO, PSA International.
"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.”
King Abdul Aziz Port, Dammam, is the largest Gulf port in Saudi Arabia. It is hoped the new SGP terminal will transform Dammam into a major port of call it the Gulf to serve the Arabian Peninsula market.
Mr Mansour Al Maiman, Secretary General of Public Investment Fund, said: "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."
The existing container terminal at King Abdul Aziz Port is operated by International Ports Services Co. Ltd. (IPS).