JCPDI Signs an Investment and Operational Agreement with Hutchison Ports to Operate JCDPI port, Saudi Arabia
The Royal Commission in Jubail and Yanbu, represented by the Jubail and Yanbu Industrial Services Company, and Hutchison Ports are pleased to announce the signing of an agreement to invest and operate JCPDI Port, which consists of world-class, multipurpose terminals within the Jazan City for Primary and Downstream Industries (JCPDI).
With the honorable and generous patronage of HRH Prince Muhammad bin Nasser bin Abdulaziz, Deputy Governor of Jazan Region HRH Prince Muhammad bin Abdulaziz bin Muhammad, and His Excellency the Minister of Industry and Mineral Resources Mr. Bandar bin Ibrahim Al-Khorayef, an online signing ceremony of the investment and operation agreement for the JCPDI Port was held today. To ensure safety, the virtual event was hosted by the Royal Commission and attended by His Excellency Eng. Abdullah bin Ibrahim Al-Saadan, Chairman of the Royal Commission for Jubail and Yanbu. Joining online were Mr. Eric Ip, Group Managing Director of Hutchison Ports, and Mr. Andy Tsoi, Managing Director of Hutchison Ports, Middle East and Africa.
Commenting at the ceremony, His Excellency Eng. Abdullah bin Ibrahim Al-Saadan, Chairman of the Royal Commission for Jubail and Yanbu said, "With the support of the government of the Custodian of the Two Holy Mosques, the JCPDI Port was established to provide modern logistics services in the region to enhance the Kingdom's presence in this field and support the goals of the Kingdom's Vision 2030, which aspires the Kingdom to become a global logistics platform. Today, we are signing an investment and operation agreement with Hutchison Ports, one of the world's leading port operators. We are seeking to provide the best services and to ensure the highest levels of quality and efficiency."
Mr. Eric Ip also commented, "We have a presence of 20 years in Saudi Arabia, and it is a very important market for Hutchison Ports. Marking a new chapter for us, JCPDI Port is located at the crossroads of the one of the busiest east-west trade lanes and the rapidly growing north-south trade lanes. We look forward to working closely with the Royal Commission to help JCPDI reach its full potential and contribute to the Saudi Vision 2030."
As part of the world's leading port network, JCPDI Port will benefit from the latest port technologies and best industrial practices. JCPDI Port is located on China's Belt and Road Initiative and is the Kingdom's closest port to East Asia. It is considered a major gateway to the Kingdom's southern region, which has an estimated population of 4.5 million people. The terminals are expected to support economic growth in the entire region and to serve eastern and southern Africa.
To be developed over two phases, the multipurpose port will consist of a container terminal and a general cargo and dry-bulk terminal. Each will be equipped with the latest in handling equipment and have quayside draft of 16.5 meters. Commercial operations of Phase I will launch this year starting with the general cargo and dry-bulk terminal. With a berth length of 540 meters, this facility will serve the immediate needs of the growing list of JCPDI tenants. Subsequently, Phase I of the container terminal is expected to start commercial operations in 2022 and offer 730 meters of berth.