SISCO partners with Red Sea Gateway to develop Jeddah Port

Saudi Industrial Services Co (SISCO) signed a memorandum of understanding (MoU) with Red Sea Gateway Terminal Co. (RSGT) to develop the northern part of Jeddah Islamic Port (JIP) on a long-term basis.

As per the MoU, RSGT will consolidate the container facilities in the northern part of JIP and execute a comprehensive development plan upgrading and adding berth capacity, while modernizing yard and all support facilities, including its existing terminal.

This will create a world-class facility capable of serving the important local market, while also catering for the growing regional transshipment trade in line with Vision 2030, Sisco said in a statement on Tadawul.

RSGT is the first container terminal in Saudi Arabia built by the private sector under a build, operate, and transfer (BOT) agreement at a cost of more than SAR 2 billion and has a capacity of 2.5 million TEUs.