In order to develop integrated and sustainable logistics zone, Saudi Global Ports (“SGP”) has reaffirmed its commitment to the transformation of Saudi Arabia’s ports and logistics through expanded partnerships with the Saudi Ports Authority (“Mawani”) and the Saudi Ministry of Investment.
As per the statement, SGP and Mawani signed an agreement to establish an approximately 1 million square metres integrated logistics zone at King Abdulaziz Port Dammam (“KAPD”). The agreement was signed by the President of Mawani Omar bin Talal Hariri and the CEO of SGP Edward Tah in the presence of Saudi Arabia Minister for Transport and Logistic Services His Excellency Saleh Al Jasser and Singapore Minister for Manpower and Second Minister for Trade and Industry Dr. Tan See Leng in Riyadh,Saudi Arabia, recently.
The signing took place during the Singapore Prime Minister Lee Hsien Loong’s official visit to Saudi Arabia. Prince Abdulaziz Bin Salman and Deputy Minister for Transport and Logistic Services Dr. Rumaih Al Rumaih were also present during the signing ceremony.
Under the agreement, SGP is slated to invest about SAR 1 billion (USD 267 million) to develop the integrated logistics zone and is studying the options for bonded warehouses and modern cold store capabilities.
According to the note, there are also plans to incorporate sustainability elements such as hybrid and electric equipment and solar panels into the development.
It further said that the development of the integrated logistics zone builds on SGP’s continuing partnership with Mawani on its Vision 2030 roadmap to transform Saudi Arabia into a global logistics centre and hub connecting Asia, Africa and Europe. “As the operator of the container terminals at KAPD, the Riyadh Dry Port Ecosystem and the future integrated logistics zone, SGP will become well positioned as a supply chain orchestrator, realising its vision to become the national champion for resilient and sustainable logistics in Saudi Arabia,” said the firm in the statement.
