AMSteel is to operate the new dry bulk and general cargo handling facility being built by Saudi Arabia’s King Abdullah Port (KAP).
Ports Development Co (PDC), which owns KAP, expects the new terminal to be completed and ready for operations during Q2 2018, at which time AMSteel’s 25-year management concession will commence.
The new facility will feature a single 330m berth with a depth alongside of 14m. It will have the capacity to handle 3Mtpa of cargo.
Commenting on the deal, Eng Abdullah Hameedadin, managing director of PDC, said: “We at KAP are keen to cooperate with entities that are experienced and knowledgeable, in order to enable ourselves to develop business at the port and contribute to the development of the maritime transport industry in the Kingdom [of Saudi Arabia] and that fully meet the objectives of the country’s Vision 2030.”
He added: “This agreement will enable us to actively contribute to promoting industry in the Kingdom, and will help contribute to the economic growth of the region.”
AMSteel, which was set up in 2015, specialises in the iron and steel supply chain business. In addition to running ports and terminals that handle the cargo, it offers its customers a full range of value-added storage, distribution and door-to-door shipping options.
Once fully built, KAP, which is located on the nation’s Red Sea coastline, will be able to process 15 Mtpa of “clean” dry bulk cargo. In addition, it will have terminals in place that have the capability to handle 20M TEU and 1.5M vehicles.