Gulf Stevedoring Contracting Company inks agreement to manage and operate King Fahad Industrial Port in Yanbu
Gulf Stevedoring Contracting Company (GSCCO), part of the Gulftainer group of companies, has signed an agreement with Red Sea Marine Services Company Limited to manage and operate King Fahad Industrial Port in Yanbu.
The deal takes GSCCO’s portfolio of terminals in Saudi Arabia up to four, a statement said.
GSCCO said it will handle all types of cargo at KFIP, including containers, breakbulk cargo, vehicles and bulk cargo. adding that the company will invest in new equipment.
The decision to award the operation of the port to GSCCO, which also operates the Northern Container Terminal in Jeddah and Jubail Commercial Port, was taken by Saudi Ports Authority (Mawani).
Richard James, managing director of GSCCO, said: “We are delighted at the well-earned trust that Mawani continues to place in GSCCO, and are truly excited at the potential to develop KFIP in Yanbu into another industry-leading port.
"In line with the strong commitment to the maritime and logistics industry expressed in the Saudi Vision 2030, we look forward to providing best-in-class services to the communities and markets around Yanbu and throughout the Northwest of the country.”
The current infrastructure at KIFP enables the handling of container vessels with up to 8,000 TEU capacity. The port supports the growing developments in the Royal Commission for Jubail and Yanbu and the surrounding areas in the northwest of Saudi Arabia.
GSCCO’s long-term plans include investing in additional equipment on an extended quay in support of the Saudi Vision 2030 objective to establish the country as a primary hub for logistics and transportation to serve mainline vessels calling on the major East-West trade lane between Asia and Europe, and act as a regional hub for transhipment to the fast-growing markets of the Red Sea and North Africa.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.