(MENAFN) Saudi Arabia is experiencing exponential growth in its ports and shipping sectors, causing the country to spend USD30 billion on a number of mega infrastructural land and sea projects, which are either being planned or currently in progress within a five-year plan by the government, Khaleej Times reported.
These new mega Saudi port projects include Jeddah Islamic Port (JIP), which is currently undergoing an expansion project that will result in increasing its capacity by 45 per cent, the Red Sea Gateway Terminal (RSGT) at an expected cost of USD510 million, the seaport in phase one of the USD26 billion King Abdullah Economic City (KAEC), and the Marafiq's Yanbu Industrial City - Marine Facilities, which will cost USD210 million.
"On the Red Sea, there are more than 25,000 merchant vessels navigating North and South. Only two old repair yards with limited docking capabilities are available in Jeddah and Suez, there is room for at least one world class ship repair yard to be built," Consultant Engineer & Risk Management Executive at Zamil Offshore Services said.
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