07/02/2014 08:26 AST

Saudi seaports play a significant role in boosting the Kingdom’s economic progress and handle 520 million tons of goods and 12 million containers annually, said Transport Minister Jabara Al-Seraisry. They have a total of 220 wharfs, he added.

Addressing a ceremony marking the launch of about 60 projects worth SR2.31 billion in Yanbu by Madinah Gov. Prince Faisal bin Salman, the minister said Saudi ports have been attracting international shipping lines.

Prince Faisal pressed an electronic button to launch the projects. He also watched a documentary on the performance of the King Fahd Industrial Port and Yanbu Commercial Port. The new projects launched by Prince Faisal included those related to expansion of the two ports, the minister said, adding that the projects would contribute to boosting the Kingdom’s exports.

The government has spent SR1.11 billion on the two ports while the remaining projects launched by the governor would cost SR1.2 billion. The commercial port has nine wharfs while the King Fahd port has 24 wharfs with a capacity to handle 140 million tons.

Efforts are underway to add six more wharfs to King Fahd port to increase its capacity to 180 million tons, Al-Seraisry said.

“Saudi ports play a big role in the Kingdom’s industrial and commercial development and exporting oil and petroleum products,” he said.

The new projects included manufacturing and importing of two multipurpose tugboats, construction of new roads, security systems, fire-fighting systems and maintenance contracts.

Prince Faisal opened a new passenger lounge at the commercial port, an observation tower and expansion of the Civil Defense Department in addition to 12 investment projects for the private sector.


Arab News

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
DARALARKAN 13.47 74,648,349
Saudi Public Investment Fund signs agreement with Six Flags to create amusement park in Riyadh

05/04/2018

Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa

Arab News

Green energy drive will boost KSA employment: Saudi Arabia’s renewable energy chief

05/04/2018

In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.

A massiv

Arab News

Dubai house prices, rents drop in first quarter of 2018

05/04/2018

Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices

The National

Saudi Arabia lifts GCC index buoyed by strong oil prices

05/04/2018

Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re

Times of Oman

Banks’ real estate credit at QR147.7bn

05/04/2018

Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i

The Peninsula