The Saudi Ports Authority (Mawani), in collaboration with the National Centre for Privatisation & PPP, has signed agreements worth more than $586m for the privatisation of multipurpose cargo terminals at eight major ports in the kingdom. The build-operate-transfer agreements will have a concession period of 20 years. The deals were signed on 23 June in the presence of Saleh Bin Nasser Al-Jasser, Transport & Logistics Services Minister and chairman of Mawani's board of directors. The first agreement was signed with Saudi Global Ports (SGP), part of Singapore-headquartered PSA, which will develop, operate and manage terminals on the kingdom's east coast, including: King Abdulaziz Port in Dammam Jubail Commercial Port King Fahd Industrial Port in Jubail Ras Al-Khair Port SGP currently operates both container terminals at King Abdulaziz Port in Dammam. The other agreement was signed with local firm Red Sea Gateway Terminal (RSGT), which will handle the cargo terminals on the west coast, including: Jeddah Islamic Port Yanbu Commercial Port King Fahd Industrial Port in Yanbu Jazan Port RSGT currently operates the container terminal at Jeddah Islamic Port in partnership with Malaysian Mining Company. The contracts include investments in modernising terminal infrastructure and equipment. In April, Mawani said that last year it had launched and inaugurated eight logistics parks with an estimated investment of about $800m. The firm said: "These investments are part of the broader development of over 20 logistics centres under Mawani’s supervision across Saudi ports, with total investments over $2.6bn." UK data analytics firm GlobalData expects the Saudi construction industry to record an annual average growth rate of 5.2% in 2025-28, supported by investments in transport, electricity, housing and tourism infrastructure projects, as well as the $850bn-plus gigaprojects programme. The infrastructure construction sector is expected to grow at an average rate of 6% in 2025-28, supported by government investments in rail, dams and road infrastructure projects. (ICE RIYADH)

Fonte notizia: Meed