KSA spending $914m on ports expansion
Expansion of King Abdul Aziz port in Dammam sees biggest investment
Around $914m worth of ports projects are currently underway in Saudi Arabia, according to a new survey.
The survey, conducted by Drewry Maritime Research on behalf of Seatrade, states that the biggest development is planned at King Abdul Aziz port in Dammam, where more than
$750m of work is planned. some $533m of this has been set aside for expanding container terminal capacity following a 10% growth in traffic over the past 12 months. A $51m power plant is also set to be built with a view to increasing power generation capacity from 50MW to 120MW.
Other investments include a new $46m container terminal at Dhiba Port and a pair of new contain terminals at King Fahd Industrial Port in Jubail at a cost of $38m. These are expected to complete in 2014.
“The southwest of the Kingdom is similarly set to benefit from maritime investment with a new deep-water facility forming an integral part of the Jizan Economic City project,” said Chris Hayman, chairman of Seatrade. “With the focus on private sector development and management, this will interest prospective international partners to come on board to help create a world-class operation,” he added.
Seatrade will host its Middle East Maritime conference and exhibition in Dubai from 27-29 November.