Shippingtelegraph: RSGT and CMA CGM signs USD 434m investment agreement in Jeddah Islamic Port Terminal 4 development

Published by shippingtelegraph

The Red Sea Gateway Terminal (RSGT), Saudi Arabia’s leading terminal operator, and CMA CGM Group, a global player in sea, land, air and logistics solutions, yesterday signed definitive agreements to jointly develop and operate Terminal 4 at Jeddah Islamic Port, in collaboration with Saudi Ports Authority (Mawani), marking one of the largest foreign direct investments in Saudi Arabia’s maritime sector.

The agreement was signed in Paris in conjunction with the French-Saudi Investment Roundtable Meeting, attended by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and His Excellency Emmanuel Macron, President of the French Republic. The agreement underscores the project’s strategic importance and its contribution to the Kingdom’s National Transport and Logistics Strategy and Vision 2030 ambitions.

The project will bring approximately USD 434 million (SAR 1.6 billion) in investment into Jeddah Islamic Port and create a new state-of-the-art container terminal as part of RSGT’s existing concession, adding approximately up to 2.6 million TEUs of annual handling capacity. The development will include new deep-water berths designed to accommodate the world’s largest container vessels supported by advanced terminal technologies and 10 new ship-to-shore cranes, enhancing productivity, efficiency and service reliability for customers across the Kingdom and the wider region.

“As global trade landscape continues to evolve and infrastructures need to expand and modernize, terminals are becoming increasingly strategic assets, essential to securing our operations, strengthening major trade corridors and providing our customers with greater reliability. Today, alongside RSGT, we are taking a major new step forward in Jeddah with a state-of-the-art terminal designed to handle the world’s largest container vessels and equipped with the most advanced technologies.

This investment reflects our long-term commitment to Saudi Arabia and our determination to continue supporting the Kingdom as it strengthens its position as a leading global trade and logistics hub,” says Rodolphe Saadé, Chairman and Chief Executive Officer of CMA CGM Group.