Saudi- KAP NYK Group joint venture to operate Ro Ro terminal

(MENAFN- Arab News) In a step to better serve the growing number of investors in the automotive sector in the Industrial Valley of King Abdullah Economic City (KAEC) the Ports Development Company (PDC) owner and developer of King Abdullah Port (KAP) has signed a joint venture agreement with Nippon Yusen Kaisha (NYK) a major automotive shipping line and logistics provider for operating the first phase of the Ro-Ro Terminal at KAP which will be operational by Q3 2016.
The signing ceremony took place at KAP in KAEC on Sept. 3 with Saleh Bin Laden PDC chairman signing for the PDC and Koichi Chikaraishi representative director and chief executive of automotive transportation signing for NYK.
The delegates toured KAP to see the infrastructure development of the Ro-Ro terminal and the technologically advanced features and equipment.
Bin Laden said: 'We are delighted to be partnering with NYK Group for operation of the first Ro-Ro terminal at KAP. NYK Group's pioneering operational experience will ensure KAP become one of the best Ro-Ro services destinations in the region.'
Chikaraishi said: 'At NYK Group we are thrilled at being part of this joint venture at KAP where we look forward to offering the expertise and the creative solutions initiated in the group's 'More Than Shipping 2018' medium-term management plan.'
The automotive sector at KAEC comprises major local and international players such as Abdul Latif Jameel (ALJ) Naghi Group Juffali Automotive Company and Al Zahid Group which earlier in June 2015 celebrated the production of the first Volvo truck from its assembly line in KAEC.
KAP owned and developed by the PDC at KAEC is the first port being fully developed by the private sector.
The PDC is a joint venture between Emaar the Economic City (EEC) the master developer of KAEC and Huta Marine Works Ltd.