USD$70m investment increases Saudi terminal capacity
A USD$70m investment will enable Saudi Arabia’s largest import terminal to handle three 14,000 vessels simultaneously.
Over the last two months, Red Sea Gateway Terminal (RSGT) has completed two parts of an expansion project, increasing the total length of its berths by more than 25%, from 1070 to 1350.
Dredging of the turning basin has also finished, increasing its diameter to 750m and enabling a vessel draught of 16.5m.
Jens Floe, managing director of RSGT, located at Jeddah Islamic Port, stated: “This expansion will allow us to offer shipping lines more opportunities to deploy larger vessels into this important market, while also helping RSGT gain additional market share in the existing trade and expected trade increase over the coming period.
“RSGT is ideally located for servicing not only the local market but also the most cost efficient location for network optimisation when it comes to transhipment.”
The infrastructure and equipment upgrade at RSTG is being spearheaded by the Saudi Industrial Services group SISCO and the first privately funded BOT (Build and Transfer) development project in Saudia Arabia, with investment of $700m.
Other shareholders include Xenel Industries and MMC Group.
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