Bulk terminal deal for King Abdullah Port
King Abdullah Port has signed a 25-year agreement with AMSteel to operate its first bulk and general cargo terminal berth.
Management for the port, which is the first fully privately-owned, developed and operated commercial port in Saudi Arabia, said that it anticipates that operations at the terminal will begin in the second quarter of 2018.
AMSteel’s warrant to operate the terminal lasts for 25 years, with King Abdullah Port’s first stage of bulk and general cargo terminals set to have a three million-tonne capacity.
“Signing this agreement comes within the framework of developing our capabilities in the field of bulk and general cargo,” said Abdullah Hameedadin, managing director of the Ports Development Company, which owns and develops King Abdullah Port.
“It will enable us to actively contribute to promoting this industry due to its economic benefits and its support for the development journey in the kingdom.”
Mr Hameedadin added that the port was keen to work with “experienced and knowledgeable” parties to develop business at the port and contribute to the development of Saudi Arabia’s maritime transport industry, in line with the goals of the country’s Saudi Vision 2030 plan.
Hassan Al-Attas, AMSteel chairman, said: “Since its establishment in 2015, AMSteel has been characterised by its outstanding successes in a short period of time, through its provision of clearance, logistics, storage and door-to-door shipping services.”
King Abdullah Port, which has a total area of 17 square kilometres, will be able to handle 20m teu, 1.5m vehicles (CEU) and 15m tonnes of clean bulk cargo each year once it is fully constructed.
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