Saudi Arabia invests $750 million on Dammam Port

Saudi Arabia is spending more than 2.8 billion riyals ($750 million) to expand the King Abdulaziz Port in Dammam, al-Hayat reported, citing the port’s general manager, Naeem Ibrahim al-Naeem, Bloomberg reports.
The port allocated 2 billion riyals to expand its container terminal capacity and another 800 million riyals for various facilities, the London-based newspaper said. Container handling increased 10 percent in the first half of 2012 to 822,093 compared with 748,498 a year earlier, the newspaper said.