Saudi ports’ revenues exceed SAR4 bn

Profits for the General Organization for Ports in the past fiscal year 1433/1434H exceeded SR4 billion, representing an increase of SR800 million from the previous fiscal year. Meanwhile, the container sector has witnessed an increase in the capacity of ports, from 5 million TEUs in 2008 to 12 million TEUs in 2012.
A report of the General Organization for Ports stated that the absorptive capacity of the Saudi ports increased significantly during the year 2012 to 470 million tons, representing an increase of 60 million tons from 2011. The number of sea docks also increased to 208, while the quantities of handled goods amounted to more than 171 million tons. This represents an increase of 4 percent from the 165 tons in 2011. The number of handling containers at the ports increased by 7 percent, amounting to an increase of more than 1.8 containers to a current capacity of 6.1 million TEUs.
The report pointed out that the value of the financial investment spent on the implementation of projects in the ports during the last fiscal year exceeded SR2 billion, with the completion of the implementation of 25 projects at a total cost of more than SR2.7 billion.
The report estimated the budget of the foundation for the fiscal year 1434-1435H at about SR1.89 billion.
Funding will be spent on the implementation of projects valued at more than SR4 billion. A sum of SR1.80 billion has been allocated for the implementation of new projects in 9 ports.
The new projects include the construction of new piers, expansion and deepening of the basin, and paving of yards in Ras Al-Khair port. About SR70 million will be allocated for the establishment of a power plant and the development of infrastructure at the Yanbu Commercial Port.
New projects also include securing new equipment, the development of the sewerage network, and the establishment of parks and development facilities in the King Fahd Industrial Port in Yanbu. Emphasis will be on developing the sidewalks and the sewage network in Jubail Commercial Port, in addition to the implementation of projects to renovate sidewalks and upgrading the facilities at Jeddah Islamic Port.
A new security system and improved services will also take effect at King Fahd industrial complex. These projects are in addition to a number of other projects to be implemented in many other ports. According to the report, the private sector pumped SR28 billion worth of investments in Saudi ports.
The Saudi ports are considered leading ports, regionally internationally, thanks to the support and strength of the national economy, which enjoys a wide international confidence. As Saudi ports extend along the coastline of the Red Sea and the Arabian Gulf, they enjoy the advantage of an attractive environment for investments, both national and foreign.