DP World and the Saudi Ports Authority (Mawani) have signed a 30-year agreement with an investment value of more than US$133.33 million to build a port-centric logistics park at the Jeddah Islamic Port.
The two parties aim to establish a logistics park which spans over 415,000 m², with an inland container depot capacity of approximately 250,000 TEU and warehousing storage space of 100,000 m², while future expansions could increase the storage space to 200,000 m².
DP World believes the facility will bolster its footprint in the region and will bring pioneering multi-modal logistics solutions to Saudi Arabia.
The new logistics park is expected to boost Jeddah Islamic Port’s re-export activities, reducing the time and cost of logistics for importers and exporters, alike. According to a statement, "the park will provide an integrated platform of services that link port operations with last-mile activities, providing temperature-controlled storage for cargo, in addition to its processing, labelling, fulfilment, consolidation and de-consolidation."