Saudi Arabia’s Ports Authority (Mawani) has listed Jeddah Islamic Port on the London Metal Exchange (LME) through its strategic partner LogiPoint, a subsidiary of Saudi Industrial Services Co (SISCO), reported the Saudi Press Agency (SPA).
This listing stands as a testament to the pivotal role of Jeddah Islamic Port in boosting and supporting the international trade.
Furthermore, it boosts the port’s position as a new delivery center for copper and zinc which further enhances the Kingdom’s ambitious objective to be a prestigious hub linking three continents and an attractive investment destination for global stock exchanges.
This remarkable success will further augment the Kingdom’s position in the global metal supply chain. Consequently, the market liquidity will increase, and supply chain will be more efficient.
Complex for Recycling Marine Waste
The listing is part of the successive accomplishments of the port to be a global distribution hub and local sustainable center. In June, Mawani signed a SR30million ($8 million) contract with the Global Environmental Management Services Ltd., Reviva, to collaborate in establishing a plant for recycling marine and industrial waste at Jeddah Islamic Port.
The deal crystalizes Mawani’s efforts to foster the concept of environmental sustainability, enhance marine safety, and fully immerse the marine sector in sustainability goals.
It represents a crucial step in the pursuit of the National Transport and Logistics Strategy and the Green Port Initiative to position the Kingdom as a global logistics hub connecting three continents.
The new complex will make a difference in the transformation process of waste into valuable resources and build a prosperous circular economy in the Kingdom.
Through the adoption of a new concept based on the comprehensive management of waste, the complex will provide recycling solutions, industrial maintenance and transportation services, and recycling by-products.
Consequently, it will reduce waste generation, and greatly improve waste management.
Therefore, the newly signed contract will accelerate the implementation of the waste management goals in the Kingdom in line with Saudi Vision 2030.
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