Mawani + SGP to build SAR 1 bn logistics park in King Abdulaziz Port

Saudi Ports Authority (Mawani) has inked an agreement with PIF-backed JV SaudiGlobal Ports (SGP) to build a SAR 1 bn logistics park in Dammam’s King Abdulaziz Port, according to a press release. The park, which will be built over an area spanning over 1 mn squared meters, will see local and international private sector investments, Saudi Transport and Logistics Services Minister Saleh bin Nasser Al Jasser said in the release. The exact timeline for the development and operations of the park were not disclosed.

The park’s features: The logistics park will include warehouses and yards equipped to store and handle dry and refrigerated goods, according to the press release. The park will also feature a bonded and re-export area for sorting, distribution operations, and other value-added services, it adds. There are also plans for the warehouse to include modern cold store capabilities, as well as hybrid and electric equipment and solar panels, SGP added in a separate statement.

KSA is on a drive to strengthen its logistics sector: The park comes as part of plans to boost the number of logistics parks within Saudi ports to 12, and to elevate the kingdom’s position in the global logistics services performance index from its current 38th spot to 10, according to the statement.

About SGP: SGP is a joint venture between Saudi Arabia’s Public Investment Fund (PIF), Singapore's PSA International Company, Saudi conglomerate Al BlaghaGroup, according to its website. SGP currently operates two container terminals at King Abdulaziz Port.