DP World signs MoU to build logistics park at Jeddah Islamic Port

Saudi Ports Authority and DP World have signed an agreement to build a logistics park at the Jeddah Islamic Port. The 30-year agreement with an investment value of more than SAR500m ($133.33m), aims to establish a logistics park which spans over 415,000 square metres, with an in-land container depot capacity of approximately 250,000 TEU and warehousing storage space of 100,000 square metres, said an official statement. Potential future expansions could increase the storage space to 200,000 square metres, the statement added. The port-centric logistics park is expected to boost Jeddah Islamic Port’s re-export activities, reducing the time and cost of logistics for both importers and exporters. It will also provide an integrated platform of services that will link port-operations with last-mile activities, providing temperature-controlled storage for cargo, in addition to its processing, labelling, fulfilment, consolidation and de-consolidation.