Gulftainer supports sustainable development of the sector
Saudi Arabia’s Vision 2030 is focused on leveraging the Kingdom’s strategic location to boost its role in connecting the continents of Africa, Asia and Europe. It’s unique location, coupled with the Saudi Ports Authority’s recent allocation of US$ 2.4bn for investment in the development of local ports, there has never been a better time to invest in the Kingdom.
This is according to Jason French, Group CEO, Gulf Stevedoring Contracting Company, a subsidiary of global port and logistics operator Gulftainer, who says that the encouragement of private investment in port infrastructure and services is key to the sustainable development of the Kingdom’s ports.
The privately owned, independent port management and logistics company, which is based in the UAE, is a prime example of the difference such investment can make – its subsidiary in Saudi Arabia, the Gulf Stevedoring Contracting Company, last year invested US$ 50mn to further expand operations at Jubail Commercial Port (JCP) and boost its handling capacity to 1.8 million TEUs.
Al Jubail can be replicated. “With our extensive experience in terminal management and our focus on reliability, flexibility, efficiency, and sustainability, we have built a strong foundation of global shipping and logistics services at Al Jubail. Our ambition is to duplicate this across other and to be a catalyst in the growth of the Kingdom’s trade and economy,” noted French.
“The ports sector in Saudi Arabia offers fantastic investment opportunities. With the right investment partners, it can truly become a launch pad for the region,” concluded French.