Deal aims to further develop the commercial capacity of the strategic Port
Saudi Arabia’s Ports Development Company (PDC), the owner and developer of King Abdullah Port, has signed an agreement with Al Salem Johnson Controls (York), a leader in HVAC-R, fire, safety and security and building management systems.
The memorandum of understanding (MoU) signed at in King Abdullah Economic City sets out the general principles and modalities of cooperation between the two parties to develop the capabilities of marine services at King Abdullah Port in line with Vision 2030.
The main objectives of the memorandum are to support the development of local content and the National Industrial Development and Logistics Program (NIDLP) and provide technical support for establishing a marine office and the required facilities to offer vessel maintenance and repair services at King Abdullah Port.
The agreement also includes the provision to strengthen the cooperation between both parties to provide the necessary solutions to facilitate the comprehensive diversification of the services at King Abdullah Port.
The MoU was signed by Jay New, CEO, King Abdullah Port, representing PDC and Dr Mohanad Al Shaikh, CEO, Al Salem Johnson Controls (York).
“The agreement aims to leverage Saudi Arabia’s unique geographical location on the Red Sea through which 13% of world trade passes, and develop the Kingdom as a major center of international trade and a hub connecting three continents,” affirmed Jay New. “It aims to further develop the commercial capacity of King Abdullah Port by establishing facilities for vessel maintenance and repair services. The agreement is particularly significant as King Abdullah Port is the first commercial port in Saudi Arabia and the Middle East owned and financed entirely by the private sector,” stressed Dr Al Shaikh.
Want to stay updated on the latest industry news and trends? Subscribe today to receive your monthly news highlights directly in your inbox!