The Ports Development Company (PDC), the owner and developer of King Abdullah Port, has signed a memorandum of understanding (MoU) with Al Salem Johnson Controls (YORK) to develop the capabilities of the marine sector in Saudi Arabia.
According to the statement, the MoU intends to promote local content development and the National Industrial Development and Logistics Program (NIDLP). The agreement aims to improve the Kingdom’s marine services by providing marine vessel maintenance and repair services.
The MoU also includes the provision to boost the cooperation between both parties to offer the necessary solutions to facilitate the comprehensive diversification of the services at King Abdullah Port. Further, it provides technical support for establishing a marine office and the required facilities to offer repair services at King Abdullah Port.
“The agreement reflects the keen interest of the leadership of Saudi Arabia to develop the Kingdom’s ports. In addition, it aims to achieve the objectives of the vision of HRH the Crown Prince Mohammed Bin Salman by leveraging Saudi Arabia’s unique geographical location on the red sea through which 13 percent of world trade passes, and develop the Kingdom as a major center of international trade and a hub connecting three continents. The memorandum comes as part of the Kingdom’s efforts to achieve the objectives of NIDLP, one of the largest and most ambitious programs under the Saudi Vision 2030 that aims to enhance the competitiveness of the economy and transform the Kingdom into a leading global logistics center.”
Dr. Mohanad Al Shaikh, the Chief Executive Officer of Al Salem Johnson Controls (YORK) said, “The signing of the memorandum of understanding reflects the keenness of the two parties to establish a strategic partnership to support the national economy and to take advantage of potential opportunities. The Ports Development Company is a leading global company in providing repair services.”
“It aims to further develop the commercial capacity of King Abdullah Port by establishing facilities for vessel maintenance and repair services. The agreement is particularly significant as King Abdullah Port is the first commercial port in Saudi Arabia and the Middle East owned and financed entirely by the private sector,” Al Shaikh further added.