ANB, Huta Marine Sign KAP Deal

Arab National Bank (ANB) and Huta Marine Works have inked a loan agreement in the amount of $692.8 million, under which ANB will finance the construction and development of the King Abdullah Port project in Saudi Arabia.

According to Robert Eid, managing director and CEO“This deal is part of the bank’s continuous efforts to establish a distinctive footprint in the development of the Saudi economy through supporting projects that generate tangible added value to the national economy and the community.” 

King Abdullah Port is the first port in Saudi Arabia to be developed and managed by the private sector. The port will have a depth of 18 meters, it will cover about 15 sq km, and will have an annual capacity of 20 million TEUs, announced TradeArabia.

Upon completion of the development program, King Abdullah Port will become within the top 10 global ports. Located just 100 kilometers north of Jeddah, King Abdullah Port is strategically located to serve the East-West transshipment of cargo as well as the domestic volumes.

Dredging Today Staff

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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