Saudi Global Ports (SGP), a joint-venture launched by PSA International and the kingdom's Public Investment Fund, has kick-started commercial operations at its new Dammam-based container terminal.
PSA International spent the last three years constructing the facility, which is located on the King Abdul Aziz Port, it said in a statement.
After welcoming its first vessel M/V NIARA on April 23, it became second only to the Port of Jeddah.
Still in its first phase of development, the terminal is 52-foot deep– the deepest in the region. It's equipped with six quay cranes.
When fully completed, the terminal will boast 1.8 million TEUs per year, with a 3,937-foot quay and 12 quay cranes. The terminal’s construction was estimated to cost over $500 million.
The facility marks the first container terminal in Dammam for PSA, which operates port projects in at least 25 countries worldwide from Antwerp to Jakarta.
“The completion and start-up of PSA's first container terminal in Dammam testifies to PSA’s commitment to the Kingdom of Saudi Arabia,” Tan Chong Meng, PSA International's chief executive, said in a statement.
The only other terminal at King Abdul Aziz is operated by International Ports Services, a joint venture between Hong Kong-based port investor Hutchinson Port Holdings and the Saudi Maritime Company for Navigation.
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