Mawani Makes Maritime Sector Investments Worth US$4.5 Billion in 2023
During 2023, the Saudi Ports Authority "Mawani" strengthened the maritime and logistics sectors, contributing to the Kingdom's exceptional leaps in international indicators and solidifying its position as a global logistics center.
These advancements align with the targets of the National Transport and Logistics Strategy (NTLS).
The Kingdom witnessed progress in various international rankings, including container handling and logistics efficiency.
It jumped 8 ranks in container handling, reaching the 16th position out of the largest 100 ports worldwide, according to Lloyd's List. In the logistics efficiency index by the World Bank, the Kingdom climbed 17 ranks to reach the 38th position out of 160 countries.
Furthermore, the Kingdom made significant progress in the Liner Shipping Connectivity Index, achieving the highest regional advancement through Mawani, according to the UNCTAD report.
The index recorded 79.01 points in the fourth quarter of 2023, compared to 77.66 points in the previous quarter.
In terms of enhancing the attractiveness of Saudi investment ports, Mawani signed agreements in 2023 to establish 5 new logistics parks and centers, with investments exceeding 4 billion riyals.
These agreements included the development of logistics parks at King Abdulaziz Port in Dammam, an integrated logistics park at Jeddah Islamic Port, and a comprehensive bunker station at King Fahad Industrial Port in Yanbu.
Additionally, Mawani laid the foundation stone for Maersk's largest integrated logistics park in the Middle East at Jeddah Islamic Port, along with a logistics park at the same port in partnership with CMA CGM.
Mawani also opened a new logistics park at Jeddah Islamic Port in collaboration with LogiPoint, marking the company's first integrated logistics park in the region.
To support international trade, Mawani added 28 new maritime services, connecting Saudi ports to eastern and western ports. It also signed partnership agreements with global ports and national entities to elevate the position of Saudi ports in the maritime transport sector.
In terms of infrastructure development, "Mawani" laid the foundation stone for the projects to develop and operate container terminals at King Abdul Aziz Port in Dammam, with investments exceeding 7 billion riyals.
Several strategic projects were inaugurated at Jubail Commercial and Industrial Ports to increase capacity, and the "Seaman Club" was established at Jeddah Islamic Port to enhance services for ship crews.