Source: Maktoob Business

The Saudi Port Authority signed a license agreement with Saudi Trade & Export Development Company (TUSDEER) to develop and operate a third container terminal at Jeddah Islamic Port (JIP) on a build-operate-transfer (BOT) basis.

The project will expand JIP capacity by 45 percent, and help maintain Jeddah's lead as the hub port of the region. The new container terminal is also expected to contribute to the planned 'Land Bridge' with the completion of the Saudi Railways project, creating a fast and efficient land-based link from the Red Sea to the Gulf. Additionally, the project will help to boost the business activity of consignment and re-export across the Kingdom, thus increasing the competitive capability of the marine transport and support system in Saudi Arabia.

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Posted by pichu at January 7, 2007 9:50 PM