Logistics Maersk opens logistics park in Jeddah By Pramod Kumar August 22, 2024, 9:07 AM Maersk The facility in Jeddah Islamic Port is Maersk’s most expansive single-site logistics and services centre in the region Largest Maersk facility in Middle East Investments in logistics increase Saudi non-oil exports up 8% Danish shipping major Maersk has opened its largest logistics park in the Middle East, aiming to bolster Saudi Arabia’s rapidly growing logistics sector. The $250 million facility in Jeddah Islamic Port is Maersk’s most expansive single-site logistics and services centre in the region. Spanning 225,000 sq m, the Maersk Logistics Park offers warehousing facilities and connectivity across ocean, land and air transport. You might also like:Economic indicators from every GCC country In addition, the facility has temperature-controlled storage for various industries and sectors such as fast-moving consumer goods, frozen food, automotive, retail and lifestyle, petrochemicals, electronics and pharmaceuticals. As part of its plan to reach net zero greenhouse gas emissions by 2040, the facility will draw up to 70 percent of its electricity from 32,000 solar panels installed over 64,000 sq m on the rooftop. The park will also utilise electric equipment and trucks, energy-efficient LED lighting with motion sensors, and other eco-friendly technologies. The deal comes as Saudi minister of transport and logistics services Saleh Al-Jasser said private sector investments in logistics zones at Saudi ports surpassed SAR10 billion ($2.7 billion). Cold storage in hot demand across the Gulf Logistics giants compete for space in Saudi Arabia Red Sea disruption to stretch into Q3 says Maersk CEO Speaking to Al Arabiya TV, he did not give a timeframe for the investments, but he added that the Maersk park is part of 18 logistics projects signed by the Saudi Ports Authority, the operator of domestic ports. Additionally, 12 new agreements are expected to be signed in the coming years, the minister said. The investment drive is part of a wider bid to increase non-oil trade within the kingdom. Earlier this month, the Saudi Export-Import Bank announced it had awarded SAR16.3 billion in financing and insurance during the first six months of this year, an increase of 128 percent year on year. The latest international trade figures, published in July by the General Authority for Statistics, showed that non-oil exports, including re-exports, increased by 8.2 percent year on year in May.
