Crown Prince Mohammed bin Salmon of Saudi Arabia has officially inaugurated the 20 million TEU capacity King Abdullah Port, the country’s latest mega-infrastructure project, according to the Saudi Press Agency.
At a ceremony in the Red Sea city of Rabigh, the Crown Prince, who is also Saudi Arabia’s Defense Minister and Deputy Prime Minister, said the port will “make the Kingdom [of Saudi Arabia] a linking point of three continents – Asia, Europe and Africa.”
— التواصل الحكومي (@CGCSaudi) February 11, 2019
The inauguration was held as part of the Crown Prince’s visit to the King Abdullah Economic City (KAEC), and also saw the signing of memorandums-of-understanding (MoU), including one with Saudi Air Cargo to build a link between the port and airport.
The port features the deepest water berths – 18 meters – and the largest and most advanced cranes in the world, which will enable it to handle the sector’s biggest container vessels.
It is the first port in Saudi Arabia to be developed, managed and operated by the private sector and has attracted approximately US$3.5 billion in investment from shipping companies, banks and operators.
سمو #ولي_العهد يدشن #ميناء_الملك_عبدالله الذي يتميز بموقعه الجغرافي ليسهم في استقطاب الاستثمارات وزيادة حصة المملكة من التجارة العالمية، ويشهد توقيع عدد من الاتفاقيات بين إدارة الميناء والمستثمرين. pic.twitter.com/s5Wtt5lIdZ
— بدر العساكر Bader Al Asaker (@Badermasaker) February 11, 2019
According to a statement from the Saudi Press Agency, the King Abdullah Port was “established on the basis of an ambitious vision that the Kingdom of Saudi Arabia needs a world-class port capable of receiving modern vessels and absorbing increasing imported goods.”