Hong Kong & London—King Salman Energy Park and Hutchison Ports are delighted to announce the agreement to manage and oversee the dry port and bonded logistics zone ("Dry Port"). The concession was granted to Energy City Logistics Company ("ECLC"), a joint venture between King Salman Energy Park and Colour Path Holdings Limited, a Hutchison Ports company. A significant signing event was held in the presence of senior executives from both organizations.
Situated in Saudi Arabia's Eastern Province, the energy hub spans 50 km2 and serves as a global energy hub. Under the agreement, ECLC will exclusively operate a cutting-edge logistics facility worth $400 million within the hub. This facility will offer comprehensive services, including container handling, breakbulk and project cargo management, storage yards, warehousing, customs clearance, as well as bonded and non-bonded logistics solutions, all tailored to the specific needs of the energy ecosystem. The Dry Port is set to enhance the Eastern Province's role as a regional logistics powerhouse, bolstered by its integration with the future GCC rail link, GCC highway, and various expressways linked to the site.
Eng. Saif Al Qahtani, President and CEO, stated, "The Dry Port plays a pivotal role in the ecosystem. The signing of the concession agreement marks a crucial milestone, propelling the Dry Port towards operational readiness. ECLC is poised to provide integrated logistics solutions and efficient services to tenants right from the start, allowing them to focus on productivity and value creation."
Mr. Eric Ip, Group Managing Director of Hutchison Ports, expressed, "We are delighted to be part of this significant project, contributing to the realization of Saudi Vision 2030's goal of transforming the Kingdom into a global logistics hub. This partnership underscores Hutchison Ports' ongoing commitment to the Kingdom, and we eagerly anticipate a fruitful collaboration with future business prospects."