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FINANCIAL NEWS
USD373m new terminal at Dammam port
09 Jul 2011
(MENAFN) President of the Saudi Ports Authority, Abdul Aziz Al-Tuwaijri, announced signing a deal worth USD373 million with Saudi Global Ports (SGP), under which a second container station would be developed at the King Abdulaziz Port in Dammam, reported Arab News.
Al-Tuwaijri said that the new terminal aims at providing 1.5 million additional TEU (twenty-foot equivalent units), thus making the total capacity of the port at 3 million
TEU.
Al-Tuwaijri added that once the project is done, the Dammam port would become one of the leading ports in the Arabian Gulf.
It is worth noting that SGP is a joint venture between the Saudi Public Investment Fund and PSA International of Singapore.
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