Container terminal operator Red Sea Gateway Terminal (RSGT) from Saudi Arabia and French shipping giant CMA CGM signed a contract for building and operating Terminal 4 at the Jeddah Islamic Port.
Once completed and operational, the new facility, which has received an investment of Saudi Royal 1.6 billion, or $434 million, will add an extra 2.6 million TEU of capacity to the port annually.
Reports suggest that the terminal, being built in collaboration with Mawani ( Saudi Ports Authority), will accommodate the biggest container ships, with deep-water berths, advanced terminal operating systems and feature 10 new gantry cranes.
More equipment would be bought to improve the overall performance and productivity of the facility to ensure it would remain competitive for reputed shipping companies which regularly transport cargoes to and from Asian, African and European markets to West Asia.
The deal signing event in Paris was a high-profile one, attended by the Crown Prince of Saudi Arabia, P.M Mohammed bin Salman and French President Emmanuel Macron.
The decision to expand
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