Saudi Arabia plans to develop a US$267 million container terminal at King Abdul Aziz Port in Dammam on a build, operate and transfer basis.
"Studies have been completed on the new container terminal and tenders will be invited within a few months to implement the project, which is open to Saudi and foreign companies," said Saudi port director Naeem ibn Ibrahim Al Naeem.
The new box terminal will annually add two million TEU capacity to the existing 1.5 million TEU and will be supported by a project to expand the kingdom's rail network connecting the eastern and western regions, said a report by Steelguru.com, the news portal for India's Steel Trade Today magazine. .
In addition to the investment in the new container terminal in Dammam a contract has been signed for a US$9 million to upgrade the current port facilities.
Mr Al Naeem said in the report that the upgrading works will affect 40 per cent of the port's 39 existing wharves since the remaining wharves are rented by the private sector and not under government control.
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