DP World and the Saudi Ports Authority (Mawani) have signed a 30-year agreement with an investment value of more than 133.33 million to build a port-centric logistics park at the Jeddah Islamic Port.
The two parties plan to build a logistics park with a total area of 415,000 m2, an inland container depot capacity of about 250,000 TEU, and 100,000 m2 of warehousing storage space, with the possibility of future expansions to 200,000 m2.
The facility, according to DP World, will help the company expand its footprint in the area by bringing cutting-edge multi-modal logistics solutions to Saudi Arabia.
The new logistics park is expected to enhance Jeddah Islamic Port’s re-export activities, reducing the time and cost of logistics for both importers and exporters. It is envisaged that the park will provide an integrated platform of services that connect port operations with last-mile activities, providing temperature-controlled storage for cargo, in addition to its processing, labelling, fulfilment, consolidation and de-consolidation.
The two parties plan to build a logistics park with a total area of 415,000 m2
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, explained: “We are committed to enhancing the role and the status of Jeddah’s Islamic port, which is strategically located on the Red Sea and has historically played a pivotal role in facilitating the movement of trade between the East and the West. A key part of our strategy as an end-to-end supply chain solutions provider is to package logistical services for our customers and bridge any existing gaps in the market. Facilities like these will enable us to make deeper inroads into the Kingdom, by extending our collaboration with leading logistics service providers.”