Saudi Arabia's Ports Authority signs $1.9 bln deal with SGP

SPG

13/04/2020 11:11

DUBAI, April 13 (Reuters) - The Saudi Ports Authority
(Mawani) said on Monday it had signed an agreement worth more
than 7 billion riyals ($1.9 billion) with Saudi Global Ports
(SGP) to build and operate container terminals at a port in
Dammam.
    SGP will build, operate and transfer the container terminals
on a 30-year contract. The project will increase the King Abdul
Aziz Port in Dammam's capacity by more than 120% to reach 7.5
million containers, Mawani said.
    ($1 = 3.7590 riyals)

 (Reporting by Yousef Saba and Alaa Swilam; Editing by Mark
Potter)
 ((Yousef.Saba@thomsonreuters.com; +971562166204))