King Abdullah Port Inks Deal with SABB and ANB

The Ports Development Company, owner and developer of the King Abdullah Port, has announced the signing of a financial agreement with SABB – Saudi British Bank and the Arab National Bank (ANB) worth 2.7 billion SAR (around $720 million).

The agreement aims to move forward with the development and expansion of the port’s facilities, thus meeting the growing demand for its services as a regional and international strategic gateway.

Through this agreement, The Ports Development Company will work to provide proper financing for the next phase of expansion and development for the port’s southern basin, which includes an additional container terminal, a ro-ro terminal and a bulk cargo terminal.

This development project should mark an important milestone as it will increase the port’s total capacity to 6 million TEU’s annually.

Raising the port’s capacity

King Abdullah port has fulfilled a number of achievements during a relatively short period.

From an operational perspective, the fourth pier was opened in May 2015 as planned, raising the port’s capacity to around 3 million containers. The pier was established and operating in record time, and was equipped with state of the art cranes that can carry up to 65 tons or 25 containers.

This fourth pier had a major impact on the increase in number of TEU’s to 1.3 million the Port handled this year alone.

Additionally, the port’s management expects the completion of the first phase of bulk and ro-ro cargo terminals to take place by beginning of 2017.

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2019 Western Dredging Association Gulf Coast Chapter Annual Meeting

The meeting will provide a forum for the exchange of information of interest to the dredging industry and its associates.

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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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