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DP World, Saudi Mawani sign SAR 500M agreement to build logistics park

DP World, Saudi Mawani sign SAR 500M agreement to build logistics park

Arab Finance: DP World, the UAE-based multinational logistics company, has signed a 30-year SAR 500 million agreement with the Saudi Ports Authority (Mawani) to build a mega logistics park in the Jeddah Islamic Port, according to a press release on June 20th.

Planned to be situated on 415,000 square meters (sqm), the logistic park will have an in-land container depot capacity of around 250,000 twenty-foot equivalent units (TEU).

The project will have a warehousing storage space spanning 100,000 sqm, which may be expanded to 200,000 sqm later.

Jeddah Logistics Park will offer multi-model solutions and boost Jeddah Islamic Port’s re-export activities. The project will reduce both logistics time and cost for exporters and importers.

Furthermore, the ambitious facility will provide services linking port operations with last-mile activities, providing temperature-controlled storage for cargo, in addition to its processing, labelling, fulfilment, consolidation, and de-consolidation.

“A key part of our strategy as an end-to-end supply chain solutions provider is to package logistical services for our customers and bridge any existing gaps in the market. Facilities like these will enable us to make deeper inroads into the Kingdom, by extending our collaboration with leading logistical service providers,” Group Chairman and CEO of DP World Sultan Ahmed Bin Sulayem said.

“The park will provide advanced and eco-friendly e-services by integrating the operations of south container terminal with the new logistics park, in a move from the Authority to offer holistic logistics parks which will enhance the competitiveness of Jeddah Islamic Port,” President of Mawani Omar Hariri said.

On June 6th, DP World and global investment group CDPQ announced $5 billion worth of investments in three of the flagship assets of the Emirati company.

 

 

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