Saudi Jeddah Port eyes three overseas deals worth $500mln each
The operator of Saudi Arabia’s Red Sea Gateway Terminal is looking to invest in ports in Africa and the Middle East, following backing from the Kingdom’s sovereign wealth fund (PIF), Bloomberg reported.
“The RSGT plans to invest in at least three international ports in the next five years,” port chief Jens Floe said. Each investment is worth $500 million, he said.
It is also aiming to spend up to $1.7 billion developing its main port in Jeddah on the Red Sea, as well as potentially investing in other Saudi ports, Bloomberg said.