POST Online Media Lite Edition



 

Maersk Saudi Arabia to set up first Integrated Logistics Park at Jeddah Islamic Port

Christian Fernsby |
A. P. Moller - Maersk signed an agreement with Saudi Ports Authority “Mawani” committing to an investment of 136Million USD (510 million Saudi Riyals) over a period of 25 years to set up an Integrated Logistics Park at the Jeddah Islamic Port in Saudi Arabia.

Article continues below




The agreement was signed in the presence of His Excellency the Minister of Transport and Logistics, Chairman of the Board of Directors of the Authority, Engineer Saleh bin Nasser Al-Jasser, Richard Morgan, Managing Director Maersk West and Central Asia, and several officials of related sectors.

The agreement was signed by His Excellency the President of the Saudi Ports Authority, Mr. Omar bin Talal Hariri, and the Managing Director of Maersk Saudi Arabia, Mr. Mohammad Shihab.

The greenfield project spread over an area of 205,000 sq. m. will be the first of its kind at the Jeddah Islamic Port offering an array of solutions with an aim to connect and simplify the supply chains of importers and exporters in the Kingdom.

Maersk will also be investing heavily in renewable energy to power this facility and eventually achieve carbon-neutrality. The project is expected to create more than 2,500 direct and indirect jobs in Saudi Arabia.

Saudi Arabia’s Jeddah Islamic Port sits strategically on the Red Sea Coast connecting the international shipping route between the east and the west.

With over 5 million Twenty-feet Equivalent Units (TEUs) of containers flowing in and out of Jeddah Islamic Port, it is the largest port in terms of volume and cargo handling in Saudi Arabia and second largest in GCC (Gulf Cooperation Council) countries.

Over 2.5 million TEUs tranship through the Jeddah Islamic Port every year. The port also connects to hinterland through a strong road and rail network.


What to read next

DP World commits port to $500 billion mega project
Møller - Mærsk to demerge Maersk Drilling Holding
Gulftainer acquired a 51% stake in Saudi Arabia's GSCCO

Tracking areas of severe thunderstorms, excessive rainfall, and excessive heat in U.S.

 
The relentlessly active spring weather pattern is set to continue through the holiday weekend as two separate systems are anticipated to be responsible for numerous showers and thunderstorms across the middle of the nation.
 
 

Latest

U.S. drillers cut oil and gas rigs to 600
North Carolina Governor to lead economic development trip in Europe
Google expanding connectivity in Africa with Umoja
Bentley opens workshop in Bulgaria

NEWS

Italy: EPPO seizes assets in investigation into €650 000 fraud involving agricultural funds

Italy draws up emergency plans for Campi Flegrei super volcano
New fire at Novo Nordisk, this time at headquarters
Iran releases first investigation report on President Raisi's helicopter crash
Another round of heavy rainfall and severe storms impacting southern U.S.
French growers protest Moroccan imports
 

BUSINESS

U.S oil and gas rigs count increased by 1 to 604

NYCEDC supporting major battery energy storage project in New York City
U.S. drillers cut oil and gas rigs to 603
Number of U.S. oil and natural gas rigs down
U.S. added 2 oil rigs
U.S. oil rig count up by 5 to 511
 

Trending Now

U.S. drillers cut oil and gas rigs to 600

Potentially habitable 'exo-Venus' with Earth-like temperature discovered

Iran releases first investigation report on President Raisi's helicopter crash

Belgium second EU country to authorise bluetongue vaccine


POLITICS

Poland signs $960m deal for U.S. radar balloons

Governor Moore announces renewal and expansion of economic MoU with South Australia
Governor Parson to embark on trade mission to Italy to promote Missouri as ideal business location
Governor Abbott hosts Kosovo President Osmani
Australian government to set up inquiry to examine impact of social media
Hungary and China sign 19 cooperation agreements during Xi's visit
 

Today We Recommend

Poland signs $960m deal for U.S. radar balloons


Highlights 

Georgia: First Quality in Macon to create 600 new jobs

Afreximbank delivers strong Q1 results

Ralph Lauren Q4 earnings per diluted share $1.38


COMPANIES

Georgia: First Quality in Macon to create 600 new jobs

Hollywood makeup brand Ben Nye files for bankruptcy as it faces talc cancer lawsuits
SEG Solar and Grand Batang City sign land utilization deal for Southeast Asia's largest PV industrial park
Bulgaria demands €400 million from Gazprom for suspended gas supplies
BlueHalo to expand operations, adding 200 new jobs in Maryland
Maersk speeds up supply chains in Europe with new Cross Dock facility
 

CAREERS

BioMar announces changes in management in Ecuador

CLG appoints managing director for Equatorial Guinea
Mark Gazit appointed executive chairman of N.E.W.S.
IFCO appoints Sebastian Grams as chief digital officer
Marlabs appoints Arun Mukunda as CRO
AfdB names Ambassador Jalel Trabelsi as Special Envoy for Middle East and North Africa and Gulf region
 

ECONOMY

Eurozone reports modest Q1 GDP growth, stable annual inflation

Italy sees faster economic growth in Q1
Slovenia's economy expected to grow 0.9 pct in Q1
Italy faces deficit infringement procedure
Real GDP increased in all 50 U.S. states
Inflation continues to decline in Germany
 

EARNINGS

Macy's Q1 diluted earnings per share $0.22

Afreximbank delivers strong Q1 results
Ralph Lauren Q4 earnings per diluted share $1.38
Dubai World Trade Centre economic output surges to $4.98 billion in 2023
Dole Q1 revenue $2.1 billion
Hapag-Lloyd Q1 EBITDA $942 million
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Belgium second EU country to authorise bluetongue vaccine

UK government unveils major package of farming and food sector support
Governor Desantis signs legislation to keep lab-grown meat out of Florida
Tanzania, Kenya resolve poultry export dispute
FAO Food Price Index rises in March
Australia grants license for GM bananas amid Fusarium Wilt TR4 concerns
 

LEADERSHIP

Study finds workers misjudge wage markets

Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
Generating 'buzz' about new products can influence their success
Hiring 'problem directors' can knock up to 64% off firm's value
 

CRIME

EU Commission fines Mondelēz €337.5 million for cross-border trade restrictions

HSBC pays penalties for alleged breaches of Consumer Data Right rules
Sanofi to settle thousands of Zantac cancer lawsuits
Former asset manager and board member of Geneva private bank referred to Swiss Federal Criminal Court
South Africa: SAP ordered to pay SIU $26m over 'invalid' Eskom contracts
Former Steinhoff director appears in court for $1.1b fraud, racketeering
 

Magazine

TRAVEL

Morocco’s first Radisson branded hotel opens in Casablanca

Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
Treyam, your premier lagoon destination in Saudi Arabia
 

SEA, LAND, AIR

2025 Chevrolet Equinox stands apart with fresh looks and capability

Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
Pagani Huayra R Evo, 900 hp from 770 Nm
 

DESIGN

Cold night, hot fire pit, cool entertainment

Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
 

GADGETS

reMarkable 2, monochrome tablet for your thoughts and your eyes

OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
Neumann TLM 103, standard microphone for both voice and music
 

HEALTH

UK: People with HIV can now donate eggs or sperm to start family

EU health watchdog urges vaccinations to stem surge in Whooping Cough cases
Brazil resumes insulin production after two decades
India launches first home-grown gene therapy for cancer
UK scientists win funding for 'cancer detecting' Lollipops
State to cover rare disease treatment costs in Bulgaria
 

MEANTIME

Potentially habitable 'exo-Venus' with Earth-like temperature discovered

Rare species of wild bees discovered in Berlin
SLAC completes construction of largest digital camera ever built for astronomy
Solar eclipse next week in U.S., Mexico and Canada
Gravitational waves may have made human life possible
Astronomers unveil strong magnetic fields spiraling at the edge of Milky Way's central black hole