SINGAPORE - Saudi Global Ports (SGP), a subsidiary of Singapore's PSA International, and Saudi Ports Authority (Mawani) agreed to build the two container terminals at the King Abdulaziz Port in Dammam.. Read more at straitstimes.com.
SINGAPORE - Saudi Global Ports , a subsidiary of Singapore's PSA International, and Saudi Ports Authority agreed to build the two container terminals at the King Abdulaziz Port in Dammam.
SGP estimates a total outlay of more than 7 billion Saudi riyal in the project, which will make it the largest seaport investment by a single operator under a public-private partnership. Under the patronage of H.R.H Prince Saud bin Nayef bin Abdulaziz, governor of the Eastern Province, the agreement was signed between the Mawani president and SGP chairman, Mr Abdulla Al Zamil.
Key officials from the Singapore Embassy to Saudi Arabia, the Public Investment Fund - which is the majority shareholder in SGP - and PSA International were also at the ceremony. The Public Investment Fund is Saudi Arabia's sovereign wealth fund.
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