DP World and the Saudi Ports Authority announced the signing of a 30-year agreement with an investment value of more than $133.33 million to build a state-of-the-art, port-centric Logistics Park at the Jeddah Islamic Port.
The agreement aims to establish a logistics park which spans over 415,000 square metres, with an in-land container depot capacity of approximately 250,000 TEU and warehousing storage space of 100,000 square metres. Future expansions could increase the storage space to 200,000 square metres.