The Saudi Ports Authority (Mawani) and MEDLOG, the logistics arm of the Swiss Mediterranean Shipping Company (MSC), have signed an agreement to establish the first-ever integrated logistics park and re-export zone at Dammam’s King Abdulaziz Port in Saudi Arabia.
The investment value exceeds SAR 150 million (about $40 million).
To be built over 100,000 square meters, the logistics park will offer a handling capacity of 300,000 TEUs alongside a suite of logistics solutions that facilitate inland freight transportation between the Central and Eastern Regions and the rest of the Kingdom, Mawani said.
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Mawani and MEDLOG Lay Foundation Stone of an Integrated Logistics Park at King Abdulaziz Port. https://t.co/GwvuGFS8h9 #SPAGOV pic.twitter.com/hyAA1UqQsg
The latest deal is said to be in line with the goals of the National Transport and Logistics Strategy (NTLS) to position Saudi Arabia as a global logistics hub connecting three major continents.
It also aligns with Mawani’s role in building a booming and sustainable maritime sector that fronts the nation’s drive toward socioeconomic prosperity while fulfilling key strategic outcomes, according to the port authority.
Thanks to its proximity to Jubail Industrial City and major urban centers in the Eastern Region, the logistics facility is ‘primely located’ to deliver competitive and cost-efficient services to the local market.
Over of course of the last two years, Mawani had struck significant partnerships worth over SAR 2 billion with national and international giants to establish six modern logistics parks that have the potential to create more than 6,000 direct and indirect job opportunities.