Business

Establishing new logistics zone worth $267 million in Jeddah

 

To establish a logistics zone, the General Authority for Saudi Ports and the Jeddah Chamber announced, in a statement, on Sunday, the signing of an agreement to establish an integrated logistics zone in the Al-Khumra area in Jeddah, with an investment value of one billion riyals ($267.6 million).

 

The two sides added that the new logistics zone will be built on an area of three million square meters in the coastal city overlooking the Red Sea.

 

logistical services

 

The statement stated that the logistics zone will provide a number of logistical services, including warehouses and specialized storage yards to meet the needs of importers and exporters, in addition to administrative and residential areas, and model warehouses.

 

According to the official account of the Saudi Ports Authority on Twitter, the new logistics zone will provide about 10,000 direct and indirect jobs in the logistics sector.

 

Increasing re-export operations

 

The logistics zone also aims to increase re-export operations and increase handling volumes at Jeddah Islamic Port, in addition to raising the level of services and support areas for the port.

 

The agreement works to increase the optimal utilization of the Authority’s assets and enhance its revenues.

 

This is a step that enhances the Kingdom’s goal of becoming a global logistics hub.

 

Supply chain services

 

Agility, another leading provider of supply chain services, infrastructure, and innovation, announced that it will develop a massive logistics zoon for warehousing and distribution near Jeddah as part of a concession agreement announced by Saudi Arabia’s General Authority for State Real Estate.

 

The project is located in the Al-Mahjar area in the south of Jeddah Governorate, on an area of 576,760 square meters, and its infrastructure will be developed to build a logistics complex according to the latest international specifications.

 

Agility will start construction work in the first quarter of 2023, and the Agility Logistics Complex – Jeddah is expected to open in the first quarter of 2025.

 

This announcement comes days after the unveiling of the Saudi government’s comprehensive plan to transform the Kingdom into a global logistics hub, in line with the Kingdom’s Vision 2030.

 

GSCRI Chains

 

The Saudi National Initiative for Global Supply Chains (GSCRI), aims to attract $11 billion in new investments in its first two years.

It also aims to transform the Kingdom into a center and a major link in global supply chains through the development of logistical and industrial infrastructure, economic cities, green energy, innovation, and industrialization.

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