Kingdom plans to expand ports capacity by 29m tons

jochemgeheniau — Wed, 06 Nov 2013 09:28:30 +0000

JEDDAH – Saudi Arabia is planning to expand its ports handling capacity by around 29 million tons to face a steady rise in demand, the head of the ports authority in the kingdom was reported as saying.
“The projects include the construction of 20new quays which will be ready for operation within two years to boost the existing capacity of 208 quays,” Musaed Al Darees, general manager of the Saudi Ports Authority told the Arabic language daily Al Watan.
The new projects, to be launched shortly, will raise the combined capacity of the Western Red Sea port of Jeddah and other sea ports in the world’s largest oil exporter to nearly 500 million tons a year from the current 471 million tons.
Al Darees did not mention the actual cost of the project, but said the new developments are within an overall expansion plan for the country’s ports, in a bid to respond to “a steady increase in business and demand.”
Besides quays, the new projects comprise the construction of more stores, importation of new equipment and services, and introduction of advanced technology.
“The authority is working with the private sector to carry out projects aimed at bolstering the capacity of the Kingdom’s ports to stimulate sea trade and boost confidence in our ports,” Al Darees said without elaborating on the private sector’s role.
Saudi Arabia is one of the largest markets in the Middle East, with its imports receipts of goods and services standing at nearly $211 billion in 2012, according to the Kuwaiti-based Inter-Arab Investment Guarantee Corporation, a key Arab League establishment.
The Kingdom’s exports of goods and services were estimated at about $410 billion last year, representing nearly 28 percent of the total exports in the Arab region.

Saudi ports’ revenues exceed SAR4 bn

jochemgeheniau — Wed, 25 Sep 2013 07:40:25 +0000

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.

Holland Gulf Chamber of Commerce » ports

Kingdom plans to expand ports capacity by 29m tons

Saudi ports’ revenues exceed SAR4 bn