Riyadh - Sharikat Mubasher: The Saudi Ports Authority (MAWANI) concluded privatization contracts exceeding SAR 4.4 billion with key Saudi entities to elevate cargo terminals at various ports across the Kingdom.

The authority signed contracts worth more than SAR 2.2 billion with Red Sea Gateway Terminal Company and Saudi Global Ports Company to privatize multipurpose cargo terminals at eight Saudi ports under a Build-Operate-Transfer (BOT) model spanning 20 years, MAWANI revealed in a recent press release.

The agreements were signed in the presence of Saleh Al-Jasser, Minister of Transport and Logistics Services and Chairman of MAWANI; Mazen Al-Turki, Acting President of Mawani; Abdullah Al-Zamil, Chairman of Saudi Global Ports; Aamer Alireza, Chairman of Red Sea Gateway Terminal; and several other officials.

These contracts aim to enhance the competitiveness of Saudi ports, expand operational capacity, support economic growth, and contribute to sustainable development.

MAWANI concluded other contracts with the Red Sea Gateway Terminal Company to privatize multipurpose cargo terminals at four Saudi ports: King Fahd Industrial Port in Yanbu, Jazan Port, Yanbu Commercial Port, and Jeddah Islamic Port. These contracts, worth over SAR 1.6 billion, cover different cargo types, including liquid cargo, bulk cargo, general cargo, livestock, Ro-Ro Cargo, and containers.

Moreover, MAWANI and the Saudi Global Ports Company inked privatization contracts worth more than SAR 600 million to elevate multipurpose cargo terminals at four Eastern Province ports: King Fahad Industrial Port Jubail, Ras Al-Khair Port, King Abdulaziz Port Dammam, and Jubail Commercial Port.