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FINANCIAL NEWS
Saudi’s Jubail port cargo up in November
29 Dec 2014
(MENAFN) According to Saudi Ports Authority, Jubail Commercial Port has registered an increase in the total cargo tonnage the port handled in November, increasing in their value to reach USD2.44 million compared with USD2.16 million during the same month in 2013, thus increasing 10 percent, Arab News reported.
The authority also said that the number of ships arriving at the port increased by 50 percent compared to last year, adding that it recorded an increase in the number of arriving and departing ships to total 201 ships during the current year compared to 102 ships in 2013.
The Authority attributed the increase in the cargo handled by Jubail Commercial Port to its strategic site and rise in population, which increases demand on imported materials and supplies, and government projects, adding that the port now has a significant role in supporting the Eastern Province’s economy in particular.
“The ongoing Jubail industrial boom is marked by the construction of 50-60 factories, including those for existing and new chemical and water desalination plants. These factories have caused a rise in the demand for imported materials as well as labor force and their residential needs,” Saudi Ports Authority said commenting on these results.
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