First regional grain terminal to be built in Saudi Arabia’s Yanbu Commercial Port

A 313,000-square-meter grain terminal will be built. (Shutterstock)
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Updated 24 July 2020

First regional grain terminal to be built in Saudi Arabia’s Yanbu Commercial Port

  • The signing ceremony was attended by Minister of Environment, Water and Agriculture Abdulrahman Al-Fadley and Minister of Transport Saleh Al-Jasser

RIYADH: The Saudi Ports Authority (Mawani) and the Saudi Agricultural and Livestock Investment Co. (SALIC) signed an agreement to build a 313,000-square-meter grain terminal in Yanbu Commercial Port capable of handling 5 million tons of produce a year.

SALIC, a Public Investment Fund-owned company, was formed in 2011 to secure food supply for Saudi Arabia through mass production and investment.

The project will link the Kingdom to global grain sources, especially in areas where SALIC holds investments.

The ceremony was attended by Minister of Environment, Water and Agriculture Abdulrahman Al-Fadley and Minister of Transport Saleh Al-Jasser, and was signed by Saad Al-Khalb, president of Mawani and the CEO of SALIC, Sulaiman Al-Rumaih.

Al-Fadley, who is also the chairman of SALIC’s board of directors, said: “This strategic partnership with Mawani has lasted for over 30 years and is considered one of the key pillars of the food security system in the Kingdom. The project aims to enhance the velocity of the main grain influx to Saudi Arabia and is considered the first regional center for grains in the commercial port of Yanbu.”

He added that SALIC relies on the geographical location of the Kingdom and the port infrastructure to enhance food distribution in the region by linking the Kingdom to global grain sources, especially countries where SALIC is investing

Al-Jasser, who is also the chairman of Mawani’s board, said: “The Yanbu grain project aims to build the first regional center and logistic platform for importing, processing and exporting grains in KSA, taking advantage of the Yanbu Commercial Port’s exceptional location on the Red Sea coast and the competitive advantage its provides given its proximity to local and regional markets in the Red Sea Basin and the Horn of Africa.”

He added: “This partnership plays a vital role in the ports and logistic services sector, given they are the main enablers of many key industries and sectors, including the food security sector. It also goes in line with Mawani’s strategic objectives of fully utilizing the huge absorptive capacity in Saudi ports and raising the percentage of private sector investment in the port sector to 90 percent by 2030. By doing this it will serve the establishment of various development projects that contribute to achieving added value to the national economy, and supporting the investment landscape and commercial traffic in the Kingdom.”

Al-Jasser said the project will support operational traffic in the Yanbu Commercial Port, attract additional international shipping lines and increase investment in the logistic services sector.
 


France’s Macron to host donor conference for blast-stricken Lebanon

Updated 11 min 36 sec ago

France’s Macron to host donor conference for blast-stricken Lebanon

  • Rebuilding Beirut could run into the billions of dollars
  • Economists forecast the blast could wipe up to 25% off of the country’s GDP

PARIS: French President Emmanuel Macron will host US President Donald Trump and other political leaders on Sunday for a UN-endorsed donors’ conference by video to raise emergency relief for Lebanon following this week’s massive explosion in Beirut.
Lebanon was already mired in deep political and economic crisis when the blast ripped through its main port on Tuesday, killing 158 people, injuring more than 6,000 and destroying a swathe of the city.
Rebuilding Beirut could run into the billions of dollars. Economists forecast the blast could wipe up to 25% off of the country’s GDP.
Many Lebanese are angry at the government’s response and say the disaster highlighted the negligence of a corrupt political elite. Protesters stormed government ministries in Beirut and trashed the offices of the Association of Lebanese Banks on Saturday.
Macron visited Beirut on Thursday, the first world leader to do so after the explosion, and promised the Lebanese people humanitarian aid would come but that profound political reform was needed to resolve the country’s problems and secure longer term support.
“I guarantee you, this (reconstruction) aid will not go to corrupt hands,” Macron told the throngs who greeted him.
There has been an outpouring of sympathy for Lebanon from around the world this week and many countries have sent immediate humanitarian support such as a medical supplies, but there has been an absence of aid commitments so far.
Trump will participate in the video-link conference.
“Everyone wants to help!” he tweeted.
Germany will commit an additional 10 million euros ($11.79 million) in emergency aid on top of the rescue contributions already underway, its foreign minister said.
A Macron aide declined on Saturday to set a target for the conference. Emergency aid was needed for reconstruction, food aid, medical equipment and schools and hospitals, the official said.
Representatives of Britain, the European Union, China, Russia, Egypt and Jordan are expected to join the conference, hosted by Macron from his summer retreat on the French Riviera. Israel and Iran will not take part, the Elysee Palace official said. ($1 = 0.8485 euros)