(MENAFN) The Jeddah Chamber of Business and Industry and the Saudi Ports Authority on Sunday agreed to a deal worth SR1 billion (USD0.26 billion) to establish an integrated logistics complex in the Al-Khumra district south of Jeddah. The logistics zone's objectives are to foster private sector participation in the industry, assist economic growth, and increase investments.
Almost 3 million square meters of the integrated logistics zone are organized into three sub-areas: shared modular warehouses, individual warehouses, huge yards, and on-demand warehouses. The zone is going to meet importers' and exporters' storage needs in addition to offering administrative, commercial, and residential spaces.
The zone is going to include fundamental services including "ready-made warehouses, storage yards, areas for re-export, specialized storage, various logistical sites, and auxiliary services consisting of commercial units, housing units, and rest facilities for workers," according to an official release.
The zone's growth would also aid the Kingdom's infrastructure, improve the urban environment, and promote reforestation.
Saudi Arabia wants to diversify its businesses and assets by utilizing its ports, and it wants to add over 10,000 new direct and indirect employments in the logistics industry.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.