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FINANCIAL NEWS
Saudi Ports awards two deals worth $116.2m
13 Dec 2010
(MENAFN) Abdul Aziz Al Tuwaijri, Chairman of Saudi Ports Authority (SPA) revealed that he has signed two agreements for the expansion of the Ras Al Zour port located in the eastern province of the Kingdom, with a combined value of $116.2 million, Arab News reported.
According to Al Tuwaijri, SPA awarded the first $85 million contract to the China Harbor Engineering Company to build two wharfs, whereas the second contract valued at $31.2 million, was awarded to Zamil Marine Services, to import two tugboats, two guide boats and boat moorings.
SPA is currently carrying out a number of new projects valued at $1.3 billion at Saudi ports. In addition, the private sector has invested about $1.47 billion for development and operation of ports, explained the Minister.
By September-end of the current year, Saudi ports have handled more than 113.17 million tons of goods, as opposed to 105.19 million tons, year on year, registering a 7.6 percent jump. During the same period, imports rose by 18 percent while the number of containers increased by 22 percent to 3.97 million.
Revenues during the mentioned period amounted to $573 billion against $552 billion a year earlier, added Al Tuwaijri.
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