Strategic Partnership Expands Port Capacity and Reinforces Saudi Arabia’s Role as a Global Trade and Logistics Hub
Red Sea Gateway Terminal (RSGT), Saudi Arabia's leading terminal operator, and CMA CGM Group, a global player in sea, land, air and logistics solutions, yesterday signed definitive agreements to jointly develop and operate Terminal 4 at Jeddah Islamic Port, in collaboration with Saudi Ports Authority (Mawani), marking one of the largest foreign direct investments in Saudi Arabia's maritime sector.
The agreement was signed in Paris in conjunction with the French-Saudi Investment Roundtable Meeting, attended by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and His Excellency Emmanuel Macron, President of the French Republic. The agreement underscores the project’s strategic importance and its contribution to the Kingdom’s National Transport and Logistics Strategy and Vision 2030 ambitions.
The project will bring approximately USD 434 million (SAR 1.6 billion) in investment into Jeddah Islamic Port and create a new state-of-the-art container terminal as part of RSGT’s existing concession, adding approximately up to 2.6 million TEUs of annual handling capacity. (....)