Riyadh - Mubasher: King Abdullah Port has signed a 25-year agreement with AMSteel, a company specialized in operating ports and handling steel shipments.
According to the agreement, AMSteel will operate the first bulk and general cargo terminal berth for a period of 25 years.
King Abdullah Port management expects to operate the first bulk and general cargo terminal berth starting the second quarter of 2018, as reported by Saudi Gazette.
Abdullah M. Hameedadin, the managing director of the Ports Development Company, owner and developer of King Abdullah Port, said that the agreement will enable them to actively contribute to promoting this industry due to its economic benefits and its support for the development journey in the Kingdom.
“We at King Abdullah Port are keen to cooperate with entities that are experienced and knowledgeable in order to enable ourselves to develop business at the port and contribute to the development of the maritime transport industry in the Kingdom, in line with the objectives of Vision 2030,” he added.
King Abdullah Port has been able to significantly develop its capacities; raising its annual throughput to 1.4 million twenty-foot equivalent unit (TEU) by the end of 2016. Additionally, the infrastructure’s annual capacity has reached 4 million TEU.
