DAMMAM — Saudi Ports Authority (MAWANI) and Saudi Global Ports (SGP) signed an agreement worth SR7 billion during a virtual ceremony on Monday, Saudi Press Agency reported. As part of the 30-year contract agreement, SGP will build, operate and transfer the container terminals. The virtual signing ceremony was attended by Minister of Transport Saleh Al-Jasser, Singapore’s Coordinating Minister for Infrastructure and the Minister for Transport Khaw Boon Wan, Saad bin Alkhalb, president of Saudi Ports Authority and Abdullah Al-Zamil, chairman of Saudi Global Ports. Upon assuming the responsibility of managing both container terminals, SGP will embark on a development and modernization program to transform King Abdulaziz Port into a mega container hub and increase the Port’s capacity to an estimated annual handling capacity of 7.5 million containers. It will provide more than 4,000 job opportunities in the port and logistics sector. The agreement is the result of the MoUs signed in the presence of Custodian of the Two Holy Mosques King Salman, Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, during the inauguration of the National Industrial Development and Logistics Program (NIDLP). The investments will focus on environmentally friendly and technologically sophisticated systems, including the adoption of automation to develop a modern Saudi workforce. Commenting on the development Saleh Al-Jasser said: “The continuous developments in Saudi ports come in line with the national efforts to achieve goals and pillars of our country’s ambitious vision to promote sustainable economic development and raise competitiveness” He also underlined the importance of the agreement as it aims to raise the operational and logistical performance level and develop the infrastructure of Saudi ports in order to become regional leader and a major player in international competition. Saad Alkhalb, president of the MAWANI, said the new deal is a continuation of the agreements concluded by the Saudi Ports Authority last December to develop container terminals at Jeddah Islamic Port with investments exceeding SR9 billion. He said that the total expected investments in Jeddah Islamic Port and King Abdulaziz Port in Dammam amount to approximately SR17 billion. “These new agreements will contribute mainly to developing berths, increasing the capacity of container terminals in King Abdulaziz Port by more than 120 perecent, and providing integrated solutions to operate container terminals,” Alkhalb added. Singapore’s Minister Khaw Boon Wan hailed the partnership and said that it strengthens the relations and cooperation between the Kingdom of Saudi Arabia and the Republic of Singapore. He also said that the Saudi ports are witnessing a qualitative shift in their systems and procedures as they are deploying more advanced services in its ports along the western and eastern coasts. Abdullah Al-Zamil, SGP chairman, said: “Today, we are proud to sign the largest single BOT Agreement in Kingdom to develop container terminals at King Abdulaziz Port. I appreciate this successful and ambitious partnership with the Saudi Ports Authority, which reflects our commitment to achieving aspirations of our wise leadership in the ports and maritime transport sector. Our company relies on innovation in its products by applying the best international standards in the field of port operation with the assistance of qualified national cadres.” It is worth noting that "King Abdulaziz Port" is the largest Saudi port on the Arabian Gulf coast. It is an integrated trade gateway linking the Kingdom with the world. It has 43 berths. It is 19 km². It has a capacity of 105 million tons. It is linked with Riyadh Dry Port by railway, which helps goods from all over the world enter the Eastern and Central Regions of the Kingdom. The port provides comprehensive operational services. It has modern handling equipment that enables the port to handle various types of cargo. It includes two advanced container terminals, one refrigerated cargo terminal, two general cargo terminals, two cement plants: one for exporting black cement and clinker and one for white cement, bulk grain terminal, Iron ore handling terminal, naval vessel manufacture area and gas and oil platform. The port contains a ship repair facility that includes two floating ship docks to accommodate ships up to 215 meters long.