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            may 24, 2019

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Saudi Arabia ramps up prominence of King Abdullah Port as major hub


Saudi Arabia has set its sights on making King Abdullah Port in Rabigh instrumental in the success of turning the kingdom into "a linking point" for trade between Asia, Europe and East Africa, according to the crown prince, who noted that the public-private port aims to position Saudi Arabia as a global logistics hub is in line with the nation's Vision 2030 economic reforms.
The port will act as a link between Gulf countries through improved logistics services and new cross-border infrastructure projects.FAXTEXT = "When we talk about King Abdullah port, we are talking about Vision 2030," port CEO Rayan Mustafa Qutub told Arab News. The port's container terminal's current capacity of three million will increase to five million TEU by the end of the year, according to Mr Qutub.
Vision 2030 envisions the construction of ports, railways, roads and airports. The government plans to work with private sector investors and enter into a new series of international partnerships to link the infrastructure developments internally and across borders, Hellenic Shipping News reported.
"One of the biggest sources of the economy in the Kingdom's vision is logistics, which is forecast to become 33 per cent of the Kingdom's economy by 2030," Mr Qutub said.
"The countries of East Africa are the new China, the next huge neighbouring economy, and we can now exchange exports and imports and offer logistic services to them and the world as a whole," he said.
King Abdullah Port, 120 kilometres north of Jeddah, features the world's deepest 18-meter water berths and state-of-the-art processing facilities.
"King Abdullah Port ended 2018 with an annual throughput increase exceeding 36 per cent, a record. If we maintain this growth rate over the coming years, we will achieve our goal of 20 million containers per year very soon," said Mr Qutub.

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