The Supervisory Committee for Privatization, in the transport sector in the Kingdom of Saudi Arabia, has agreed to sign contracts of assignment for the development and operation of container terminals in Jeddah Islamic Port, with major operators and operators of regional and international ports, which are represented by the “Dubai International Ports” companies and the “Red Sea Gate” station, This is within the framework of consolidating the Kingdom's position as a center for global logistics services.
This initiative comes to activate the memoranda of understanding signed by the General Authority for Ports (Ports), in front of the Saudi Crown Prince Mohammed bin Salman bin Abdel Aziz, in February, in order to achieve the goals of the National Industry Development Program and Logistics Services, one of the Saudi Vision 2030 programs, within the framework of efforts The efforts of the General Ports Authority and the National Center for Privatization, which aim to develop the Saudi port system and elevate it to the highest levels of competition in the world, which establishes its pivotal role in making the Kingdom a global logistics platform and a link between the three continents.
Support contracts will be signed this month, according to the BOT formula. This type of contract represents an advanced step, through which the General Authority for Ports aims to strengthen its partnerships with the private sector to maximize and develop the capabilities of Saudi ports and raise their absorptive capacities and competitive services, where these efforts are pursued within ambitious performance indicators that have a level that matches the highest standards.