The Saudi logistics sector is poised for growth with DP World’s investment of SR900 million ($250 million) to build a distribution center at the Jeddah Islamic Port.
Jeddah Islamic Port © Mena Today
The Saudi logistics sector is poised for growth with DP World’s investment of SR900 million ($250 million) to build a distribution center at the Jeddah Islamic Port.
With this strategic move, the UAE multinational logistics company will also enhance its operational capabilities, providing more efficient and comprehensive services to its clients.
Sunday’s announcement signals the start of construction on the quarter-billion-dollar project, which will be developed in two phases and is scheduled to open in the second quarter of 2025.
The park offers an in-land container depot with a handling capacity of 250,000 twenty-foot equivalent units and warehouse space of 100,000 sq. meters, said a press release.
Integrated with the recently awarded 30-year concession for the South Container Terminal, the state-of-the-art facility will bolster trade to enable Saudi Arabia’s strategy to become an economic powerhouse by 2030.
In June 2022, DP World and the Saudi Ports Authority, known as Mawani, signed a 30-year agreement, with an investment exceeding SR500 million, to construct a cutting-edge, port-centric logistics park in Jeddah.
The deal aims to develop the park, covering 415,000 sq. meters, featuring an in-land container depot capable of accommodating around 250,000 TEU and warehousing storage space totaling 100,000 sq. meters. Potential expansions could raise the storage capacity to 200,000 sq. meters.
The UAE General Civil Aviation Authority (GCAA) has confirmed that safety inspections and required maintenance are currently underway on Airbus A320 aircraft operated by UAE national carriers, following an Emergency Airworthiness Directive (EAD) issued by the European Union Aviation Safety Agency (EASA) for the global A320 fleet.
UAE residents are gearing up for a long weekend as the country marks its 54th National Day, also known as Eid Al Etihad. The annual celebration commemorates the founding of the UAE on December 2, 1971, when six emirates united to form a single nation.
AD Ports Group, the UAE’s leading ports, logistics and trade-facilitation company, has announced the sale of its 9.77% stake in NMDC Group PJSC to Alpha Dhabi Holding for AED 1.6 billion (US$436 million).
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