Saudi opens largest logistics investment in Jeddah Port

Saudi Arabia inaugurated on Wednesday the largest logistics investment by global shipping company Maersk in Jeddah Islamic Port with a total investment value of 1.3 billion riyals (about $345 million) in the presence of a number of leaders of the logistics and maritime sector in the Kingdom.

The Saudi Press Agency quoted Saudi Minister of Transport and Logistics Saleh Al-Jasser as saying at the inauguration ceremony of the logistics area, which was attended by Deputy Amir of Makkah Region Prince Saud bin Mishaal, that the area is one of eight logistics areas in the port that were launched with investments from the private sector.

Al-Jasser added that the new logistics area in Jeddah Islamic Port will operate using renewable energy generated from solar panels by 70 percent to support economic activity in the kingdom by providing highly efficient logistics services to support trade and export movement to foreign markets and enhance supply chains and logistics services.

Al-Jasser explained that the methodology of the Authority and the transport and logistics services system in developing logistics areas in Saudi ports in partnership with the private sector and major national and international companies. Specialized to raise efficiency and enhance operational capabilities in the Kingdom’s ports and consolidate its leading and prominent role on the international maritime map. He stated that the Saudi logistics sector and ports have become remarkably attractive to international companies and foreign and local capital for investment and the establishment of logistics zones, which contributes to supporting economic growth, transferring knowledge and enhancing the Kingdom’s position as a global logistics center.

He pointed out that foreign investment flows in this sector during the past four years exceeded 10 billion riyals (about $2.7 billion). The agency quoted the Chairman of the General Authority for Ports, Omar Hariri, as saying in a similar speech that the new logistics zone is an extension of the multiple strategic partnerships that the Authority has concluded with major international and national companies. It also includes a center for implementing e-commerce with high-density storage designs and pioneering mechanical solutions and an internal women’s academy that provides training programs dedicated to women.

He explained that the zone operates on solar energy generated from solar panels on the roofs Distributed over 65 thousand square meters according to an advanced warehouse management system that applies modern technologies and digital solutions to manage inventory to ensure the safety and security of the area and its workers, in addition to the safety of goods.