The Saudi Ports Authority has commenced works aimed at upgrading and developing two container terminals at King Abdulaziz Port in Dammam in eastern Saudi Arabia.
The development of the terminals is in fulfilment of a build-operate-transfer (BOT) agreement with Saudi Global Ports (SGP). The project has an estimated total cost of approximately US$1.9 billion.
SGP said the upgraded terminals will enable the port to handle up to two million TEUs in a year.
The BOT agreement also grants SGP a 30-year concession to operate and develop both terminals.