Skip to content Skip to Search
Skip navigation

Work starts on new $40m logistics park at Dammam port

By Pramod Kumar
Mawani
Saleh Al-Jasser, minister of transport and logistic services and chairman of Mawani, laying the cornerstone of an integrated logistics park at Dammam’s King Abdulaziz Port

A SAR 150 million ($40 million) logistics park is to be built at King Abdulaziz Port, Dammam by the Saudi Ports Authority, known as Mawani, and Medlog, the logistics arm of the Geneva-based Mediterranean Shipping Company

The 100,000 sq m facility will have a capacity of 300,000 twenty-foot equivalent units (TEUs) annually, Mawani said in a statement.

The laying of the cornerstone for the logistics park will fulfill Mawani’s aim to expand the number of logistics parks in the kingdom to 30, company president Omar Hariri said.

Last week Mawani signed four contracts with private companies for maritime services at eight ports, with investments exceeding SAR1 billion.

Latest articles

Aldar Properties HQ. The developer's new bonds will be managed by HSBC and Standard Chartered

Aldar prepares for new 10-year green Islamic bonds

Aldar Properties, the largest developer in Abu Dhabi, has appointed banks for its US-dollar-denominated 10-year green Islamic bond, according to a news report. HSBC and Standard Chartered Bank will lead as joint global coordinators, Reuters reported, citing a bank document. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First […]

Tourists stop for a breather at a cafe in Cairo's Khan el Khalili souq. About 14.9m people visited Egypt in 2023

Tourists keep flocking to Egypt as conflict rumbles on

Egypt’s visitor numbers rose 27 percent in the first four months of 2024, according to its vice minister of tourism and antiquities. The tourism ministry aims to increase inbound visitors by 25-30 percent this year, as it chases a target of 30 million visitors a year by 2030. Tourists from Arab countries accounted for the […]

Revenue from the steel division reached AED1.95 billion during the first quarter, generating a profit for Emirates Steel Arkan of AED86 million

Rising freight costs impact Emirates Steel Arkan profit

Emirates Steel Arkan reported a net profit of AED128 million ($35 million) in the first quarter of 2024, down 16 percent year on year, due to elevated freight costs on the back of regional geopolitical challenges. Revenue at the Abu Dhabi-headquartered company for the three months to March 2024 fell 12.5 percent to AED2.1 billion […]

A declaration of intent to begin Cepa talks was signed by UAE minister of state for foreign trade Dr Thani bin Ahmed Al Zeyoudi and New Zealand trade minister Todd McClay

UAE and NZ in talks to build on non-oil trade

The UAE has agreed to start negotiations on a comprehensive economic partnership agreement (Cepa) with New Zealand as part of plans to boost the Gulf state’s foreign trade to AED4 trillion ($1.1 trillion) by 2031.  A joint declaration of intent confirming the agreement has been signed by Dr Thani bin Ahmed Al Zeyoudi and Todd […]