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FINANCIAL NEWS
Saudi Arabia inks USD4.8b deals to develop ports
09 Sep 2012
(MENAFN) The Saudi Ports Authority has landed contracts to develop the master plans for Saudi ports, it said in a press release.
The authority’s President Eng. Abdulaziz Al-Tuwaijri has signed two contracts worth a total of USD4.8 billion.
The signing of these contracts comes as part of the planning process for Saudi ports to fulfill the future needs and achieve the objectives of the Saudi ports, the statement said.
The first contract, worth USD2.49 billion, was signed with W.S. Atkins & Partners Overseas Engineering Investments and is aimed to develop King Abdul Aziz Port in Dammam and Jubail Commercial Port. The contract period is for 8 months.
The second contract, worth USD2.3 billion, was inked with German Agency for International Cooperation (GIZ), and is aimed to develop Jazan, Dhiba and Yanbu commercial ports, also with duration of 8 months.
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