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FINANCIAL NEWS
Saudi Arabia plans USD164m port-upgrading drive
07 Aug 2012
(MENAFN) The Saudi Ports Authority unveiled plans to invest USD164 million in the upgrade of the Kingdom’s sea ports, Saudi Presss Agency (SPA) reported.
Authority head Abdulaziz al-Tuwaijri said that the authority will set up a USD51.2 million power plant at King Abdulaziz Port in Dammam to meet increasing demand.
The authority will also build a USD46.4 million container terminal in Dhiba Port, and two container terminals at King Fahd Industrial Port in Jubail at a cost of USD38.4 million. All the port developments are scheduled to be completed within two years.
Also, a USD27.73 million terminal to service and dock passenger and leisure vessels will also be set up at Yanbu Commercial Port to support tourism to the country.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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