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FINANCIAL NEWS
Saudi to spend USD613m on ports expansion projects
21 Jun 2011
(MENAFN) Saudi Transport Minister, Jobarah Al Suraisry, said that in order for the Kingdom to compete with other regional ports, the country would boost the capacity of Dammam’s port and would spend around USD613 million in the expansion process, reported Gulf Daily News.
Al Surasry added that the amount would be spent in expansion projects for all ports, especially in the industrial ports in Yanbu and Jubail.
He also said that in the coming five or six months another budget to expand ports would be passed.
It is worth noting that the Kingdom is spending billions of dollars on infrastructure projects, which include a USD400 billion to be spent by 2013, and over USD130 billion to be spent for social and infrastructure projects.
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