JEDDAH: APM Terminals has agreed to purchase a 37.5 percent ownership in the South Container Terminal, strengthening ties with Maersk’s global network and bolstering Jeddah Islamic Port’s position as a trading gateway. As per the deal, DP World will continue to run the facility and keep a majority stake of 62.5 percent.
According to the Saudi Ports Authority, or Mawani, the Kingdom is acquiring the interest in APM Terminals, a fully owned subsidiary of A.P. Moller–Maersk, as part of its larger initiative to increase its logistical capacity and establish itself as a trading hub.
According to the authority, the investment advances the goals of the National Transport and Logistics Strategy, which seeks to diversify Saudi Arabia’s economy by boosting non-oil exports, increasing private sector involvement, and improving port efficiency.
The purchase aligns with Saudi Arabia’s Vision 2030, which prioritizes economic diversification and the Kingdom’s development into a major international logistics hub connecting Europe, Asia, and Africa.
Jeddah Islamic Port is a crucial gateway to the Kingdom of Saudi Arabia and a key hub in our customers’ supply chains,” said Keith Svendsen, CEO of APM Terminals, in a statement. We are happy to make this important investment in the Southern Container Terminal and to expand our footprint in Saudi Arabia.
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