The Saudi Ports Authority (MAWANI) has signed Monday an investment agreement with Saffania Navigation Co. Limited to operate and maintain a bunker station at King Fahad Industrial Port in Yanbu.
The agreement was signed by H.E. Omar Talal Hariri, President of MAWANI, and Captain Saud Elenzi, Chairman at Saffania Navigation. As per the terms of the contract, Saffania Navigation will be bunkering fuel around the clock to incoming vessels through the terminal that spans 20,000m2 in addition to managing its operation and maintenance needs for a period of ten years.
The bunker station will feature storage tanks for bunker fuels like heavy fuel oil and marine diesel oil, pumping stations, pipeline networks, bunker measurement and metering stations, heating and cathodic protection for bunker tanks and pipeline networks, control room, and safety and fire protection systems to ensure smooth and seamless functioning of the terminal in compliance with global best practices.
On this occasion, MAWANI’s President stated that the deal plays an important role in transforming the Saudi ports sector into a global leader in shipping services in line with the objectives of the National Transport and Logistics Strategy (NTLS). He added that this initiative reflects the Authority’s intent to leverage the enormous capacity of local ports and existing public-private partnership opportunities to establish development projects that enable and support various sectors of the economy, including the Kingdom’s manufacturing industry.
The King Fahad Industrial Port in Yanbu, with its 34 berths and 10 terminals, is a purpose-built facility that serves the city’s industrial zones and caters to its unique needs, as well as an export hub for crude oil, gas, refined petroleum products, and petrochemicals. With the capacity to handle 210 million tons annually, the 6.8 km2 port helps industries based in the Royal Commission’s Yanbu Industrial City import raw materials and equipment from global markets.
MAWANI’s recently-launched organizational strategy aims to propel the Saudi shipping and logistics industry to new highs, thus creating a sustainable and thriving maritime sector and consolidating the Kingdom’s stature as a global logistics hub in accordance with the objectives of the NTLS and Saudi Vision 2030.