| Code: 181777 |

Red Sea Gateway Terminal (RSGT), a subsidiary of Saudi Industrial Services Co. (SISCO), and Saudi Ports Authority (Mawani), have signed a memorandum of understanding (MOU) for further expansion of Jeddah Islamic Port (JIP) in Jeddah, Saudi Arabia.

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Red Sea Gateway Terminal (RSGT), a subsidiary of Saudi Industrial Services Co. (SISCO), and Saudi Ports Authority (Mawani), have signed a memorandum of understanding (MOU) for further expansion of Jeddah Islamic Port (JIP) in Jeddah, Saudi Arabia. 

Under the MOU, which was signed on January 28, 2019, the parties intend to further develop northern part of JIP on a long-term basis, in addition to RSGT’s existing terminal.

JIP is Saudi Arabia’s largest seaport, handling approximately 50% of the all containerized volume of the country. Specifically, RSGT will consolidate the container facilities in northern part of Jeddah Port and execute a comprehensive development plan upgrading and adding berth capacity while modernizing yard and all support facilities, including RSGT’s existing terminal.

This is expected to create a world-class facility capable of serving the local market, while also catering for the growing regional transshipment trade, according to SISCO.

With a capacity of 2.5 million TEUs, RSGT is the first container terminal in the country built by the private sector. It is the only terminal at JIP capable of fully accommodating ultra large container vessels (ULCVs) of 14,000+ TEUs.

In 2018, RSGT volumes grew by more than 16% as compared to 2017.

The duo will announce more details once the binding terms are agreed.

 

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