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The development of the northern container terminal- Jeddah Islamic Port (JIP)
Overview
The project aims at the development of the northern part of the Jeddah Islamic Port (JIP) (the northern container terminal), under a build, operate, and transfer (BOT) agreement between Red Sea Gateway Terminal Limited (RSGT) and Saudi Port Authority (Mawani). Under the project, which will be implemented in three phases, the terminal infrastructure will be upgraded by new berths and equipment. The first phase comprises developing and upgrading the terminal infrastructure over three years, to increase its total capacity to 6.2 million TEUs by 2023. As for the second and the third phases, further investments of SAR 5.6 billion will be injected to increase the total capacity of the terminal to 8 million TEUs
Project Information
- Transportation > Transprtation Services > Logistics Services
- Red Sea Gateway Terminal Limited (RSGT) is a 60.6%-owned subsidiary of Saudi Industrial Services Co. (SISCO)
- In Q1 2019, Red Sea Gateway Terminal Limited (RSGT) signed a memorandum of understanding (MoU) with Saudi Port Authority (Mawani) to develop the northern section of JIP
- On December 15, 2019, Red Sea Gateway Terminal Limited (RSGT) received the approval of Saudi Arabia’s Supervisory Committee for Privatization of Transport Sector to sign the concession contracts to develop and operate the container terminals at the Jeddah Islamic Port.
- On December 23, 2019, the company signed a 30-year concession contract worth SAR 6.6 billion with Saudi Port Authority (Mawani) to redevelop the northern part of the port.
- The company announced the new build, operate, and transfer (BOT) contract will be effective as of Q2 2020, replacing the current agreement.
- In Q2 2020, Saudi Industrial Services Co. (SISCO) announced that its subsidiary Red Sea Gateway Terminal Co. (RSGT) had officially received the project’s site and started the development of the northern part of Jeddah Islamic Port (JIP), expecting to increase total capacity by 2023.
- In Q4 2020, RSGT, SISCO’s subsidiary, announced that it currently works on launching two Ship-to-Shore (STS) cranes equipped with modern technology that is fast and efficient.
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On Feb. 15, 2024, The Saudi Ports Authority (Mawani) announced the completion of the development of the northern part of Jeddah Islamic Port, in cooperation with the Red Sea Gateway Terminal Co. (RSGT).
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Project Developments
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Tadawul-listed firms’ pipeline of projects, expansion plans for 2023Argaam Special03/01/2023
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