SISCO subsidiary signs SAR 1.6B concession deals with MAWANI to operate 4 Red Sea terminals

Logo of Sustained Infrastructure Holding Co.’s (SISCO Holding)

Sustained Infrastructure Holding Co.’s (SISCO Holding) subsidiary, Red Sea Gateway Terminal (RSGT), signed 20-year concession agreements with the Saudi Ports Authority (MAWANI) to operate four existing general cargo facilities along the Red Sea coast, with a total capital expenditure investment of SAR 1.56 billion.

According to a statement to Tadawul, under the terms of the concession agreements, RSGT will operate the existing facilities at King Fahad Industrial Port in Yanbu, Yanbu Commercial Port, Jazan Port, and the general cargo and roll-on/roll-off (RoRo) terminals at Jeddah Islamic Port.

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The newly established Multi-Purpose Terminals Co. (MPT), wholly owned by RSGT, will manage the new general cargo, dry and liquid bulk, RoRo, and livestock terminals. This company will oversee all non-container facilities within RSGT’s expanded portfolio.

The statement noted that during the first five years of the concession contracts, RSGT will invest SAR 672 million ($180 million) in infrastructure, equipment, and technology to upgrade operations at the four facilities to international standards.

Over the full 20-year term, RSGT’s total investment will amount to SAR 1.56 billion ($418 million).

The concession agreements will become effective starting July 1, and the financial impact will appear in SISCO Holding’s and RSGT’s financial statements beginning in Q3 2025.

According to data available with Argaam, MAWANI, in collaboration with the National Center for Privatization & PPP (NCP), signed today, June 23, build-operate-transfer (BOT) contracts with national partners—Saudi Global Ports (SGP) and RSGT—at an investment value of more than SAR 2.2 billion for multi-purpose cargo terminals at eight ports across the Kingdom.