Print
PDF
At the beginning of April, Red Sea Gateway Terminal (RSGT) significantly expanded its operational capabilities and capacity at Jeddah Islamic Port with the official takeover of operations in the northern section of Jeddah Islamic Port, previously known as the North Container Terminal.
A new 30-year concession agreement for the existing north port facility was concluded at the end of last year between RSGT and the Saudi Arabian Ports Authority (Mawani). This calls for US $1.7 billion of investment in infrastructure, equipment and technology by 2050, with annual container throughput capacity growing to 8 million teu.
By 2023, the expanded RSGT facility, covering an area of 1.5 million m2, will have an increased annual container throughput capacity of 5.2 million teu. Already able to accommodate very large container vessels of 20,000 teu and above, at the end of the first three-year phase of investment, RSGT will be equipped with a total of 24 Super Post-Panamax quayside gantry cranes, 67 Rubber Tyred Gantry cranes (RTGs), and will offer 4,900 reefer plugs.
“This carefully planned program of growth and investment will firmly establish RSGT as the largest logistics gateway, and the busiest container terminal, in Saudi Arabia, and on the Red Sea,” says Jens Floe, RSGT chief executive.
RSGT, a joint venture between the Saudi Industrial Services Company (SISCO) group and Malaysian Mining Company (MMC), has signed an Islamic financing agreement with Banque Saudi Fransi and Al Rajhi Bank for the project.
