Investments in Saudi maritime sector exceeds $6.7bn, says top official
Investments in Saudi Arabia’s maritime sector have exceeded SR25 billion ($6.66 billion) thanks to successful collaborations between the Saudi Ports Authority and private sector partners, according to Arab News.
Omar Hariri, president of the Saudi Ports Authority, shared these details during the inauguration of a new logistics zone at the Jeddah Islamic Port.
Hariri highlighted that significant investments have been made over the past four years through partnerships with both national and international companies.
He said that these partnerships have led to the execution of major projects across various Saudi ports with both national and international companies, involving a total investment exceeding SR25 billion.
Saudi Arabia’s logistics sector has undergone a transformation driven by Vision 2030 and the National Industrial Strategy.
During the ceremony, Hariri also celebrated a significant strategic partnership with logistics and shipping giant Maersk. The company has made its largest global investment at Jeddah Port, totaling SR1.3 billion. This investment underscores the port’s attractiveness as a major regional hub and reinforces Saudi Arabia’s role as a key global logistics center linking Europe, Africa, and Asia.
Hariri further announced the addition of 47 new shipping routes, bringing the total number of navigational services at Saudi ports to 115, thus solidifying the Kingdom’s position in global maritime connectivity.
