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DP World and the Saudi Ports Authority (Mawani) have signed a 30-year agreement worth more than SAR500m (US$133m) to build a port-centric logistics park at Jeddah Islamic Port.
The agreement aims to establish a logistics park which spans over 415,000 sq m, with an inland container depot capacity of around 250,000 teu and warehousing storage space of 100,000 sq m. Future expansions could increase the storage space to 200,000 sq m.
It is hoped that the logistics park will boost the port’s re-export activities, reducing the time and cost of logistics for importers and exporters, alike.
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