Executive Briefings

Gulf Cooperation Council Invests $36bn in Port Development

The GCC countries are allocating $36bn to further develop their port infrastructure amid increasing foreign non-oil trade volumes. Saudi Arabia is powering ahead with port infrastructure development with more than $750m allocated to Dammam's King Abdul Aziz Port, which includes the launch of a second high-tech container terminal in 2015 with capacity for 1.8 million TEUs per annum.

The Jizan Economic City project will also include port infrastructure plans while the northwestern port of Dhiba will get a new $46.4m container terminal. Two additional terminals, valued at $38.4m, are to be constructed at King Fahd Industrial Port in Jubail while Jeddah Islamic Port is forecasting an average increase of 10.9 percent through to 2016.

Qatar's new $7.1bn mega-port project, located close to the busy Messaeid Industrial Zone and port is aiming for a 2016 opening, with eventual capacity of six million TEUs per year by 2028.

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The Jizan Economic City project will also include port infrastructure plans while the northwestern port of Dhiba will get a new $46.4m container terminal. Two additional terminals, valued at $38.4m, are to be constructed at King Fahd Industrial Port in Jubail while Jeddah Islamic Port is forecasting an average increase of 10.9 percent through to 2016.

Qatar's new $7.1bn mega-port project, located close to the busy Messaeid Industrial Zone and port is aiming for a 2016 opening, with eventual capacity of six million TEUs per year by 2028.

Read Full Article