Hutchison Ports has signed an agreement to invest and operate a new multipurpose Saudi port on the coast of the Red Sea.
The agreement has been signed with the Jazan City for Primary and Downstream Industries (JCPDI) for JCPDI Port in Saudi Arabia. To be developed over two phases, the multipurpose port will consist of a container terminal and a general cargo and dry-bulk terminal. Each will be equipped with the latest in handling equipment and have quayside draft of 16.5 meters.
Commercial operations of Phase I will launch this year starting with the general cargo and dry-bulk terminal. With a berth length of 540 meters, this facility will serve the immediate needs of the growing list of JCPDI tenants. Subsequently, Phase I of the container terminal is expected to start commercial operations in early 2022 and offer 730 meters of berth.
Eric Ip, group managing director of Hutchison Ports, commented: “We have a presence of 20 years in Saudi Arabia, and it is a very important market for Hutchison Ports. Marking a new chapter for us, JCPDI Port is located at the crossroads of one of the busiest east-west trade lanes and rapidly growing north-south trade ranes.”
JCPDI Port is located on China’s Belt and Road Initiative and is the Kingdom’s closest port to East Asia. It is considered a major gateway to the Kingdom’s southern region, which has an estimated population of 4.5 million people. The terminals are expected to support economic growth in the entire region and to serve eastern and southern Africa.