Singaporean terminal operator PSA International has laid out plans to create a 7.5m teu hub in Saudi Arabia.
Subsidiary Saudi Global Ports has assumed the management of both First and Second Container Terminals in King Abdulaziz Port Dammam, following the signing of a 30-year build, operate and transfer agreement earlier this year.
When the planned expansion works are fully completed, the port’s annual container handling capacity will increase to an estimated 7.5m teu.
PSA’s estimated total investment of more than SAR7bn ($1.8bn) is expected to be the largest seaport investment by a single operator under a public private partnership in Saudi Arabia.
Wan Chee Foong, regional CEO of Middle East South Asia, PSA International, said his company was determined to transform King Abdulaziz Port into a “global mega hub”.