Time in Riyadh: Time in Washington:
RSS Twitter LinkedIn
spacer
Xenel Signs Contract to Build Container Terminal at Jeddah Port
November 6, 2007 – Xenel Industries Ltd., in collaboration with Saudi Industrial Services Company and Malaysian MMC Corporation, has signed a deal to partake in a joint venture project to construct a container terminal at the Jeddah port, at an approximate cost of $447 million.

Xenel and its partners will develop and operate the port’s container terminal under a 30-year concession agreement which will expire in February 2039. In recent years, the Jeddah port has become a major trading hub for the Gulf region. In fact, an estimated 76 percent of containers traveling into Saudi Arabia pass through Jeddah.

Return to news page


 

 
Last Updated September 17, 2014
©2014 U.S.-Saudi Arabian Business Council