Skip to content Skip to Search
Skip navigation

Work starts on new $40m logistics park at Dammam port

By Pramod Kumar
Mawani
Saleh Al-Jasser, minister of transport and logistic services and chairman of Mawani, laying the cornerstone of an integrated logistics park at Dammam’s King Abdulaziz Port

A SAR 150 million ($40 million) logistics park is to be built at King Abdulaziz Port, Dammam by the Saudi Ports Authority, known as Mawani, and Medlog, the logistics arm of the Geneva-based Mediterranean Shipping Company

The 100,000 sq m facility will have a capacity of 300,000 twenty-foot equivalent units (TEUs) annually, Mawani said in a statement.

The laying of the cornerstone for the logistics park will fulfill Mawani’s aim to expand the number of logistics parks in the kingdom to 30, company president Omar Hariri said.

Last week Mawani signed four contracts with private companies for maritime services at eight ports, with investments exceeding SAR1 billion.

Register now: It’s easy and free

AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East.

Why sign uP

  • Exclusive weekly email from our editor-in-chief
  • Personalised weekly emails for your preferred industry sectors
  • Read and download our insight packed white papers
  • Access to our mobile app
  • Prioritised access to live events
Register for free

I’ll register later

Latest articles

A drive-through ADIB ATM in Ras al Khaimah, UAE. The bank is ranked as the Middle East's 12th most valuable lender

ADIB profit up 18% on increased lending and fee income

Abu Dhabi Islamic Bank (ADIB) reported a double-digit growth in net profit for the first quarter, on the back of an increase in lending and income from fees and commissions. The bank, which is ranked by Forbes as the Middle East’s 12th most valuable lender, reported a net profit after tax of AED1.7 billion ($463 […]

A new study suggests the UAE labour market cannot provide work for all job seekers

UAE labour market: Too many people, not enough jobs

More people are looking for jobs in the UAE than there is work available for them, according to a labour market report from recruitment consultancy Cooper Fitch. Hiring in the second-largest Arab economy grew by less than 1.3 percent in the three months to March 31 compared with the same period last year, the report […]

Indian prime minister Narendra Modi meets Saudi Crown Prince Mohammed Bin Salman in Jeddah

New oil refineries in India among Saudi trade deals

Saudi Arabia and India have strengthened their trade partnership in the areas of energy, defence, tourism and culture following a visit by Indian prime minister Narendra Modi this week. Energy sector agreements include plans for two new oil refineries in India and collaboration on petrochemicals, electricity, renewable energy and climate policy, Bloomberg reported.  The countries, […]

Opec+ has already agreed to increase oil output by 411,000 barrels per day in May

Opec+ to consider further oil output increase for June

Several Opec+ members are to suggest the group accelerates oil output hikes in June for a second consecutive month, as a dispute worsens between members over compliance with production quotas. Oil prices hit a four-year low in April, dragged down by a US-China trade war and an unexpected decision by Opec+ to increase output by 411,000 barrels per day […]

Shoppers in Tripoli, northern Lebanon. Rising food prices contributed to a small inflation increase in March

Lebanon inflation falls to 14% as exchange rate stabilises

Lebanon’s annual inflation rate fell to 14 percent in March, from 70 percent in the same month last year, according to news reports. The primary cause of the drop is the stabilisation of the country’s exchange rate, Arab News reported, citing data from the Central Administration of Statistics in Beirut. The rate has stood at […]

Morocco’s energy minister Leila Benali said the pipeline project has "made considerable progress" and is in the execution stage

Morocco and Nigeria agree terms for $25bn gas pipeline

Morocco and Nigeria have agreed to create a joint venture to manage a long-planned $25 billion pipeline which will ship gas to Europe, a Moroccan minister has said. Leila Benali, minister of energy transition and sustainable development, told Morocco’s parliament that a floating gas storage terminal would also be installed at Nador on the Mediterranean […]

IMF Syria new chief Van Rooden is currently mission chief for Ukraine and an assistant director in the IMF's European Department

IMF appoints first mission chief to Syria in 14 years

The International Monetary Fund (IMF) has appointed Ron van Rooden as head of its mission to Syria, the first country mission chief since war erupted there 14 years ago. Syria’s finance minister Mohammed Yosr Bernieh said in a written statement, that van Rooden’s appointment came “following our request”. “This important appointment marks an important step […]

RAK sets out $272m plan for ‘our version of Central Park’

Ras Al Khaimah is preparing an AED1 billion ($272 million) mixed-use masterplan to link two of its most prominent waterfront developments – Al Hamra and Al Marjan Island. The project is being led by Marjan, the master developer of freehold properties in the northern emirate, and will have its official launch later this year. “What […]

FORMULA 1 STC SAUDI ARABIAN GRAND PRIX 2023

Saudi ticketing app webook plans European expansion

Riyadh-based Webook, which describes itself as Saudi Arabia’s largest booking platform for events and experiences, says it is expanding beyond the Middle East into Europe to tap a growing market for ticketing. Set up in 2016 under the name Hala Yalla, Webook initially focussed as a service to book football pitches, before expanding to include […]

Street vendors in the historic Balad district of Jeddah. Falling oil prices have hit the Saudi economy

Saudi Arabia’s debt burden ‘to rise more quickly’, says IMF

The International Monetary Fund has revised its forecast for Saudi Arabia’s debt burden as tumbling oil prices dent the country’s revenues. The IMF is now projecting that Saudi government gross debt will be 44.5 percent of GDP by 2029, according to the twice-yearly Fiscal Monitor released in Washington DC on Wednesday.  In last October’s report, […]

alalah Port, Oman. Oman's hydrocarbon exports jumped by $6.5 billion in 2024, primarily due to the explosive growth in refined product sales from the Duqm Refinery

Duqm refinery fuels $6.5bn growth in Oman’s oil exports

Oman’s hydrocarbon exports swelled by nearly $6.5 billion last year due to a surge in sales of refined products following the commissioning of the sultanate’s largest oil refinery. The Gulf country’s hydrocarbon exports surged from OR13.8 billion ($35.8 billion) in 2023 by nearly 18 percent to OR16.3 billion ($42.4 billion) in 2024. Crude exports edged […]

A Russian oil rig in the Caspian Sea. India's increasing reliance on cheaper Russian oil erodes the dominance of traditional Middle Eastern suppliers like Saudi Arabia and Iraq

Gulf share of India oil market slides on Russia gains

India’s pivot toward discounted Russian crude oil has accelerated, eroding the dominance of traditional Middle Eastern suppliers in one of the world’s fastest-growing oil markets. In the Indian fiscal year ending March 31, Russia retained its position as India’s top oil supplier for a third year in row, Reuters reported, based on ship tracking data […]