Major Partnership to Transform Jeddah Islamic Port

The Saudi Ports Authority has announced a partnership between Red Sea Gateway Terminal and France's CMA CGM to develop a container terminal at Jeddah Islamic Port, with investments valued at 1.7 billion riyals.

The Saudi Ports Authority (Mawani) has struck a significant agreement with Red Sea Gateway Terminal (RSGT) and France's CMA CGM to enhance Jeddah Islamic Port. The collaboration aims to develop and operate a new container terminal.

According to the Saudi state news agency SPA, the project's investments are estimated at 1.7 billion riyals, roughly translating to $453.28 million.

The expansion is expected to increase capacity and efficiency at one of Saudi Arabia's key ports, reinforcing the kingdom's position in global maritime trade.

(With inputs from agencies.)