Abu Dhabi: Saudi Crown Prince, Deputy Premier and Defence Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud inaugurated the King Abdullah Port in Rabigh, Saudi Gazette reported.
"The port will make Saudi Arabia a linking point of three continents – Asia, Europe and Africa," said the Crown Prince in his speech at the launch ceremony, on the sidelines of his visit to to King Abdullah Economic City (KAEC).
Minister of Transport Nabil Al Amoudi said the port, the first of its kind to be owned, operated and managed by the private sector, is expected to have of an export capacity worth SAR600 billion in 2020 and the added value for port exports would reach SAR500 billion in 2030. The capacity of the port will be up to 20 million containers after development.
Saleh Bin Laden, chairman of the Port Development Company, said that the King Abdullah Port is one of the largest and fastest ports in the region and that the company will contribute to make the port one of the top 10 ports in the world.
The port, which is part of KAEC, is aimed at making Saudi Arabia a global logistics hub and will provide jobs for 20,000 Saudis. More than 13 per cent of the world trade movement passes through the port, which is one of the largest infrastructure projects in the kingdom.
The port, about 120km north of Jeddah, features the world’s deepest 18-metre water berths and state-of-the-art processing facilities. It is regarded as a role model for national projects and a driver of the kingdom’s Vision 2030.
Located on one of the main international trade routes, King Abdullah Port, owned by the Ports Development Company, facilitates trade between Asia and Europe. Spanning over 17 square kilometres, the port was named among the world’s top 100 container ports and acquired the eighth position among the fastest growing ports in the world in less than four years after starting operations.
Upon completion, King Abdullah Port will have a capacity of 20 million containers (TEU), 1.5 million vehicles of car equivalent units (CEU) and 15 million tonnes of clean bulk cargo each year. In 2018, the port increased its annual capacity by 26 per cent to 2.3 million TEUs.