RIYADH: The Saudi Ports Authority, Mawani, has inked a deal with Globe Group to establish a fully integrated logistics zone at Jeddah Islamic Port to enhance its competitive edge and support logistics-related companies on the ground.
This comes as a continuation of Mawani’s initiative to turn the Kingdom into a global logistics hub by creating such zones inside and outside ports.
Mawani said it aims to increase the contribution of the private sector to economic development and diversification in Jeddah Islamic Port, as well as provide and localize job opportunities in the logistics sector.
Jeddah Islamic Port is witnessing development operations aimed at improving its operational processes and increasing its capacity in an effort to make it among the top 10 ports in the world.
The port accounts for 75 percent of inbound maritime and transshipment trade in the Red Sea, making it the first re-export point in the region.
Recently, Mawani announced the signing of exceptional agreements to establish five promising logistic areas in Jeddah Islamic Port with an investment value of approximately SR2 billion ($532 million).
It also provides 6,000 direct and indirect job opportunities in the first phase, in an integrated partnership with local and international companies, including Maersk, CMA CGM, LogiPoint, DB World, Bahri.