KSA: King Abdullah Port signs operational agreement with AMSteel
Saudi Arabias King Abdullah Port has signed an agreement with AMSteel, a company specialised in operating ports and handling steel shipments, to operate its first bulk and general cargo terminal berth for a period of 25 years.
The management of King Abdullah Port expects the completion of the first phase of bulk and general cargo terminals with a capacity of three million tonnes in the second quarter of 2018.
Strategically located on the Red Sea coast on one of the worlds busiest maritime shipping lanes and with direct access to extensive transportation networks and urban centers, King Abdullah Port is the first fully privately owned, developed, and operated commercial port in Saudi Arabia.
Eng. Abdullah M Hameedadin, managing director of the Ports Development Company, owner and developer of King Abdullah Port, said: Signing this agreement comes within the framework of developing our capabilities in the field of bulk and general cargo. It will enable us to actively contribute to promoting this industry due to its economic benefits and its support for the development journey in the Kingdom.”
He added: We at King Abdullah Port are keen to cooperate with entities that are experienced and knowledgeable in order to enable ourselves to develop business at the port and contribute to the development of the maritime transport industry in the kingdom, in line with the objectives of Vision 2030.
Hassan Al-Attas, chairman of AMSteel, commented: Since its establishment in 2015, AMSteel has been characterised by its outstanding successes in a short period of time, through its provision of clearance, logistics, storage, and door-to-door shipping services. It has also managed to win the trust of major customers both globally and locally, all seeking to benefit from the companys services and experience in several projects.
King Abdullah Port has been able to significantly develop its capacities, raising its annual throughput to 1.4 million twenty-foot equivalent unit (TEU) by the end of 2016. Additionally, the infrastructures annual capacity has reached four million TEU.
King Abdullah Port, which is owned by the Ports Development Company, is the first privately owned, developed and operated port in the Kingdom. The port occupies a total area of 17,000sqm, and enjoys close proximity to King Abdullah Economic Citys Industrial Valley and the bonded zone. The port makes an increasingly important contribution to the Kingdoms regional and global role in trade, logistics, and shipping. Once fully built, King Abdullah Port will be able to handle 20 million containers (TEU), 1.5 million vehicles (CEU) and 15 million tonnes of clean bulk cargo every year.