Saudi Crown Prince, Deputy Premier and Defence Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud inaugurated the King Abdullah Port in Rabigh.
The Saudi Arabia’s State News Agency (SPA) reported that Saudi Arabia moved one step closer to its goal of becoming a global logistics hub with launch of the King Abdullah Port.
The port, part of King Abdullah Economic City, will make the Kingdom “a linking point of three continents, Asia, Europe and Africa,” the crown prince said at the launch.
Minister of Transport Nabil Al Amoudi said the port, the first of its kind to be owned, operated and managed by the private sector, is expected to have of an export capacity worth SAR600 billion in 2020 and the added value for port exports would reach SAR500 billion in 2030. The capacity of the port will be up to 20 million containers after development.
Saleh Bin Laden, chairman of the Board of Directors of the Port Development Company, said that the King Abdullah Port is one of the largest and fastest ports in the region and that the company will contribute to make the port one of the top 10 ports in the world.
The port, which is part of KAEC, is aimed at making Saudi Arabia a global logistics hub and will provide jobs for 20,000 Saudis. More than 13 per cent of the world trade movement passes through the port, which is one of the largest infrastructure projects in the kingdom.
The port, about 120km north of Jeddah, features the world’s deepest 18-metre water berths and state-of-the-art processing facilities. It is regarded as a role model for national projects and a driver of the kingdom’s Vision 2030.