MoU signed to build logistics zone in Jeddah, Saudi Arabia

Saudi Arabia’s Port Authority signed a 1 billion riyal ($267 million) agreement with Jeddah’s chamber of commerce to establish a logistics zone in Jeddah’s al-Khomra, both sides, said a statement. The new zone will be built in an area spanning 3 million square meters in the Red Sea port city, Jeddah Chamber said in a statement. The zone will provide a number of services including warehouses and specialized storage facilities, the Port Authority said in a statement.