PSA commences operation of new container terminal in Dammam
Saudi Global Ports LLC (SGP), a joint-venture company formed between the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia and PSA International (PSA) started its commercial operations this month, at the second container terminal in the King Abdul Aziz Port in Dammam, a key gateway port on the Arabian Gulf, PSA said in a press release.
On 23 April 2015, SGP handled the first commercial vessel, M/V NIARA, owned by Orient Express Line. 1,011 TEUs were handled on this 2,000-TEU capacity vessel.
Located in Saudi Arabia’s Eastern Province, Dammam City, phase 1 of SGP’s terminal has 16 metres of water depth, the deepest in the region, and is equipped with six quay cranes of 23 container row span on 700 metres of quay. When the new SGP terminal is fully developed, it will have a quay length of 1,200 metres and 12 quay cranes, with a designed capacity of 1.8 million TEUs per annum.
Mr Tan Chong Meng, Group CEO, PSA International, said, “The completion and start-up of PSA's first container terminal in Dammam testifies to PSA’s commitment to the Kingdom of Saudi Arabia. I would like to thank the Saudi Ports Authority, King Abdul Aziz Port Authority, Customs Authority, Saudi Railway Organisation and our partner, Public Investment Fund (PIF)
for their support that enabled SGP to achieve this significant milestone. I also thank our customer, Orient Express Line (OEL) for its commitment to start the first vessel call. I am confident that this important gateway port will help the region grow its trade and business activities.”
Mr Abdul Rahman Mohammed Al Mufadhi, Secretary General of the Public Investment Fund, said, “The second container terminal in Dammam is commercially and strategically significant for the development of the Kingdom’s economy. PIF is pleased in our partnership with PSA International, a leading and renowned port group, to develop and operate this important container terminal project in Dammam.”
Captain Leslie Reis, Chief Executive Officer of Orient Express Lines said, “PSA is an experienced port operator and our cooperation with PSA spans across the globe. The startup of this new terminal brings to this region much needed capacity. We congratulate SGP for this successful first vessel operation and look forward to handle more container volume through this terminal.”
The successful start of operations for SGP represents PSA’s continued drive and commitment to serve its customers wherever they may be.
About PSA International
PSA International is one of the leading global port groups. PSA participates in port projects across Asia, Europe and the Americas with flagship operations in PSA Singapore Terminals and PSA Antwerp. Employing the finest talents in the industry, PSA delivers reliable and best-in-class service to its customers and develops win-win relationships with its partners. As the port operator of choice in the world's gateway hubs, PSA is “The World's Port of Call”.
About Public Investment Fund (PIF)
The Public Investment Fund (PIF) was established by Royal Decree No. M/24, dated 25-06-1391H corresponding to 17-08-1971 to provide financing support to projects which are commercially and strategically significant for the development of the national economy. A number of important economic sectors in the Kingdom of Saudi Arabia (KSA) have availed the PIF funding such as petroleum refineries, basic petrochemical industries, pipelines and storages, transportation including maritime, airline, strategic projects owned by the private sectors, the energy sector and water desalination, mineral sectors and its infrastructural facilities such as rail road connection. PIF’s funding is handled through loans or guarantees, and in special cases, through allocations of public funds to specific projects. PIF was also assigned the role of investing and holding equity participations on behalf of the government in certain joint venture companies with the private sectors.
