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FINANCIAL NEWS
Saudi Ports inks USD133.28m deals
05 Mar 2012
(MENAFN) Saudi Ports Authority (SPA) said that it inked several contracts valued USD133.28 million to develop the country’s ports, reported Arab News.
The SPA added that of these contracts, one was signed with Huta Hegerfeld Saudia for the establishment of two wharfs at King Abdul Aziz Port in Dammam to handle bulk goods at a cost of USD45.31 million.
Whereas another contract, with a value of USD14.12 million was inked with
Al-Balagha Trading Group to rent King Fahd Shipyard at the port for 10 years.
Furthermore, a third contract, worth USD25 million, was signed to carry out cleaning and maintenance at King Abdul Aziz Port for 3 years.
On the other hand, 2 contracts were inked for King Fahd Industrial Port in Yanbu where a new wharf will be constructed at a cost of USD34.38 million for Yasref refining company to export petroleum products, and the second contract, received by Advanced Contracting, is to build a 109-meter high marine tower worth USD8.79 million.
It is worth noting that the Jazan Port received USD15.99 million deal to develop its electricity power network, moreover, 2 wharfs will be established at Dhuba Port at a cost of USD6.39 million.
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