Mubasher: DP World and the Saudi Ports Authority (Mawani) have signed a 30-year agreement to establish a logistics park at the Jeddah Islamic Port with total investments of more than SAR 500 million ($133.33 million).
Covering an area of 415,000 square metres, the logistics park has an in-land container depot capacity of around 250,000 TEU and warehousing storage space of 100,000 square metres, according to a press release on Sunday.
The park aims to foster the Jeddah Islamic Port’s re-export activities, cut the time and cost of logistics for importers and exporters, and offer an integrated platform of services connecting port operations with last-mile activities.
The Group Chairman and CEO of DP World, Sultan Ahmed bin Sulayem, said: "On this occasion, we reiterate our commitment to investing in the modernisation of this facility by providing the highest standards of logistics services and technology-enabled trade solutions."
Meanwhile, the President of the Saudi Ports Authority, Omar Hariri, commented: "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."
