Saudi Global Ports (SGP), a PSA International subsidiary, has assumed management control of both the First and Second Container Terminals in King Abdulaziz Port in Dammam (KAPD), making the company the sole container terminal operator within the port.
To mark the occasion, key representatives from PSA International, Public Investment Fund, Saudi Ports Authority (Mawani) and Saudi Global Ports attended a virtual ceremony on 5th October to commemorate SGP’s new terminal concession and the smooth integration of both container facilities into a dingle operation. This was followed by a ribbon-cutting ceremony with suitable pandemic safety measures at the First Container Terminal, with Mawani’s President H.E. Eng. Saad Al Alkhalb as guest of honour.
The handover of First Container Terminal from Mawani to SGP was achieved in less than six months, following the signing of the 30-year Build, Operate and Transfer (BOT) agreement between the Saudi Ports Authority and SGP in April this year.
PSA International says it is committed to providing the resources required to transform King Abdulaziz Port into a major regional hub, that can compete effectively with other centres. Planned investment in equipment and facilities are expected to boost container throughput capacity at the port of Dammam to around 7.5 million teu a year. SGP’s estimated total investment of more than US$ 1.8 billion is reported to be the largest seaport investment by a single operator under a public private partnership in the Kingdom of Saudi Arabia.