Saudi Arabia’s first privately owned port, King Abdullah Port, has announced it will receive over $719 million from the Saudi British Bank and the Arab National bank to improve and expand their facilities, reported Arab News.
The expansion includes an additional container terminal, a ro-ro terminal and a bulk cargo terminal, expanding all capacity dramatically.
Announcement of the development to make room for the new post-Panamax “Mega-Ships” comes after CMA CGM announced the opening of two new weekly services that will connect Northern Europe, The Middle East and Pakistan/North West India calling at the King Abdullah Port.
The Tema Port in Ghana is also undergoing massive expansion, with the Ghana Ports and Harbour Authority announcing the US$1.5 billion project is to begin on October 1, 2016.
