Saudi Ports Authority (Mawani) said it signed a joint agreement with Red Sea Gateway Terminal Co. (RSGT), the Kingdom’s national container terminal operator, and France’s CMA CGM Group to develop and operate the fourth container terminal at Jeddah Islamic Port with an investment of SAR 1.7 billion.
The new terminal will have a handling capacity of 2.6 million twenty-foot equivalent units (TEUs), Mawani said in a statement. The agreement was signed during the ninth Future Investment Initiative (FII) conference in Riyadh.
The partnership will raise RSGT’s annual operating capacity to 8.8 million TEUs, enhance service quality, and strengthen Jeddah Port’s connectivity by leveraging CMA CGM’s global network and RSGT’s operational expertise.
Jeddah Islamic Port is the largest port on the Red Sea coast, featuring 62 multi-purpose berths.
Source: Argaam