King Abdullah Port inks deal with AMSteel to operate first bulk and general cargo berth
King Abdullah Port has signed an agreement with AMSteel, a company specialized in operating ports and handling steel shipments.
Through the agreement, AMSteel will operate the first bulk and general cargo terminal berth for a period of 25 years. King Abdullah Port management expects to operate the cargo terminal berth starting the second quarter of 2018.
“Signing this agreement comes within the framework of developing our capabilities in the field of bulk and general cargo,” said Abdullah M. Hameedadin, managing director of the Ports Development Company, owner and developer of King Abdullah Port.
“It will enable us to actively contribute to promoting this industry due to its economic benefits and its support for the development journey in the Kingdom.”
He added: “We at King Abdullah Port are keen to cooperate with entities that are experienced and knowledgeable in order to enable ourselves to develop business at the port and contribute to the development of the maritime transport industry in the Kingdom, in line with the objectives of Vision 2030.”
Hassan Al-Attas, chairman of AMSteel, said: “Since its establishment in 2015, AMSteel has been characterized by its outstanding successes in a short period of time, through its provision of clearance, logistics, storage, and door-to-door shipping services. It has also managed to win the trust of major customers both globally and locally, all seeking to benefit from the company’s services and experience in several projects.”
King Abdullah Port has been able to significantly develop its capacities, raising its annual throughput to 1.4 million TEU by the end of 2016. Additionally, the infrastructure’s annual capacity has reached 4 million TEU.
The management of King Abdullah Port expects the completion of the first phase of bulk and general cargo terminals with a capacity of 3 million tons, to be ready starting the second quarter of 2018.
King Abdullah Port, which is owned by the Ports Development Company, is the first privately owned, developed and operated port in the Kingdom. The port has been listed as one of the world’s largest maritime shipping lanes.