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February 16, 2021

Hutchison Ports and JCPDI sign investment agreement for JCPDI Port

Hutchison Ports has signed an agreement with the Royal Commission in Jubail and Yanbu, represented by the Jubail and Yanbu Industrial Services Company, to invest in and operate Saudi Arabia’s JCPDI Port within the Jazan City for Primary and Downstream Industries (JCPDI).

Hutchison Ports has signed an agreement with the Royal Commission in Jubail and Yanbu, represented by the Jubail and Yanbu Industrial Services Company, to invest in and operate Saudi Arabia’s JCPDI Port within the Jazan City for Primary and Downstream Industries (JCPDI).

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Royal Commission hosted the online signing ceremony of the agreement.

JCPDI Port is located on China’s Belt and Road Initiative and is the kingdom’s nearest port to East Asia.

The agreement has been concluded with an aim to provide the latest port technologies and to facilitate best industrial practices at the port.

Hutchison Ports said that the terminals are expected to aid economic growth in the whole region while serving eastern and southern Africa.

Royal Commission for Jubail and Yanbu chairman Eng Abdullah bin Ibrahim AlSaadan 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.”

Hutchison Ports group managing director Mr Eric Ip said: “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 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.”

The multipurpose port will be developed over two phases and will consist of a container terminal and a general cargo and dry-bulk terminal.

With a quayside draft of 16.5m, each terminal will be equipped with the latest handling equipment.

Starting with the general cargo and dry-bulk terminal, the commercial operations of Phase I will begin this year.

With a berth length of 540m, the terminal will attend to the immediate requirements of the JCPDI tenants.

Moreover, with a berth length of 730m, the commercial operations of Phase I of the container terminal will begin in early 2022.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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