Hutchison Ports has signed a concession agreement to manage and operate King Salman Energy Park’s (SPARK) dry port and bonded logistics zone in Saudi Arabia.
The concession was awarded to a newly established joint venture between SPARK and Hutchison Ports’ Colour Path Holdings Limited: Energy City Logistics Company (ECLC).
SPARK is a 50 sq km global energy hub that is in the Eastern Province of Saudi Arabia. Under the concession, ECLC will be an exclusive operator to a USD400 million state-of-the-art logistics facility in the energy hub. The facility will provide services for handling containers, breakbulk and project cargo, storage yards, warehousing, Customs clearance, bonded and non-bonded logistics solutions tailored to the needs of SPARK energy ecosystem.
Eric Ip, group managing director of Hutchison Ports, said: “We are very pleased to participate in this mega project and contribute to the success of the Saudi Vision 2030 of developing the Kingdom into a global logistics hub. This partnership represents Hutchison Ports’ continued commitment to the Kingdom, and we look forward to a fruitful partnership with future business opportunities.”
