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Saudi Ports Authority (Mawani) has signed a contract with Globe Group, a leading company in marine services sector, for the development of an integrated logistics park and re-export zone over a 135,000-sq-m area at Jeddah Islamic Port.
This partnership is part of Mawani’s initiatives to set up world-class logistics facilities within and outside port areas, in a bid to position the kingdom as a global logistics hub that links three major continents, said a statement from Mawani.
These best-in-class logistics units will help boost the competitive edge of the kingdom’s trade gateway and in turn achieve the objectives of National Transport and Logistics Strategy (NTLS), it stated.
Recently, Mawani had signed deals worth over SR2 billion ($532.5 million) with local and global logistics giants, including Maersk, Bahri, CMA CGM, LogiPoint, and DP World, to build five logistics parks at Jeddah Islamic Port in bid to boost its competitive and logistical standing.
These projects also have the potential to create 6,000 direct and indirect employment opportunities in the initial phase of execution.
Mawani is keen on advancing the private sector’s contribution to the economic development, bolstering diversification, and enhancing Saudization at Jeddah Islamic Port in specific and the logistics sector in general, said the statement.
To secure its place among the top 10 ports of the world, Jeddah Islamic Port is currently undergoing a wave of extensive transformation to upgrade its operations and capacity through development projects and concessions in collaboration with strategic partners.
These are aimed at improving the operational efficiency of container terminals as well as deepening approach channels, turning basins, and waterways in addition to constructing new berths with deeper drafts to accommodate giant vessels, said Mawani in its statement.
Being the kingdom’s top import and export destination, Jeddah Islamic Port receives 75% of the country's maritime trade and transshipment volumes. With exceptional operating capabilities and unmatched offered services, the port is the Red Sea’s top re-export hub as well, it added.-TradeArabia News Service