King Abdullah Port Inaugurated
- Business & Finance
Saudi Arabia’s Crown Prince HRH Mohammed bin Salman bin Abdulaziz inaugurated King Abdullah Port earlier this week, during his visit to King Abdullah Economic City, the Saudi Arabia’s State News Agency (SPA) reports.
The new port was established on the basis of an ambitious vision that the Kingdom of Saudi Arabia needs a world-class port, capable of receiving modern vessels and absorbing increasing imported goods.
King Abdullah Port, located about 120 km north of Jeddah, features the 18-meter deep berths and state-of-the-art processing facilities.
Since its inception in the last quarter of 2013 the number of containers handled by the port has reached 7,227,859 TEUs. The port’s management states that the annual increase in throughput was primarily achieved in conjunction with an 8% increase in imports and exports compared to 2017.
The port, described during the Crown Prince’s visit as “one of the latest mega-infrastructure projects in the Middle East”, is owned by the Ports Development Company, and is a key component of Saudi Arabia’s long-term strategy to boost trade and grow its economy.