Latest news with #RSGT
Zawya
27-06-2025
- Business
- Zawya
SISCO Holding's RSGT to operate 4 multi-purpose terminals in Red Sea
Riyadh - Red Sea Gateway Terminal (RSGT), a subsidiary of Sustained Infrastructure Holding Company (SISCO Holding), signed a 20-year concession agreement for the operation of four existing multi-purpose port facilities on the Red Sea with the Saudi Ports Authority (Mawani). The build, operate and transfer (BOT) concessions cover general cargo, dry and liquid bulk, crude oil, petrochemical, Ro/Ro, and livestock terminals, according to a press release. The projects will be run by RSGT's fully owned Multi-purpose Terminals (MPT) business unit, which will assume operations of all non-containerized port facilities within the expanding RSGT portfolio. Meanwhile, the 20-year total capex investment stands at SAR 1.56 billion ($418 million) in upgrades for all four facilities. Over the first five years of the four concessions, RSGT will invest SAR 672 million ($180 million) in infrastructure, equipment, and technology to bring the four facilities to global operational standards. RSGT will consolidate the existing multi-purpose and Ro/Ro terminals at Jeddah Port, in addition to taking operational control of King Fahd Industrial Port Yanbu, Yanbu Commercial Port, and Jazan Port. The new concessions will allow RSGT to positively contribute to the Kingdom's goals of economic diversification and international competitiveness. This step boosts RSGT's service offerings, operational capacity, reinforcing its ability to support growing trade flows through the Red Sea. The project also anchors the company's position as a leading multi-port operator both domestically and globally. The concessions will be effective from 1 July 2025, while the financial impact will be reflected in SISCO Holding and RSGT's financial statements from the third quarter (Q3) of 2025. Jens Floe, CEO of RSGT, commented: 'The signing of these concession agreements represents another major milestone in Red Sea Gateway Terminal's strategic growth plan, as well as another major step in the fulfilment of the Vision 2030 goals for privatization, and the emergence of new global trade and logistics hubs here in Saudi Arabia, located at the crossroads of so many key international trade lanes.' Khalid Suleimani, Group CEO of SISCO Holding, highlighted: "The addition of these four multi-purpose terminals to RSGT's portfolio is a transformative step in our expansion strategy, that is fully aligned with Saudi Arabia's National Transport and Logistics Strategy (NTLS).' 'This strategic expansion also supports SISCO Holding's five-year strategy (6x26) objectives, which aim to achieve SAR 6 billion in assets under management (AUM) and SAR 2 billion in revenues by 2026,' Suleimani added. He concluded: 'By continuing to invest and grow our portfolio, through our various companies and investment arms, in addition to investing through the holding company, we are creating sustainable, long-term value for shareholders while reinforcing RSGT's position as a leading port operator in the region and the largest operator on the Red Sea." In the first quarter (Q1) of 2025, SISCO Holding turned profitable at SAR 24.70 million, against net losses valued at SAR 21.10 million in Q1-24.
Arab News
25-06-2025
- Business
- Arab News
RSGT to invest SR1.6bn to develop four Red Sea ports
Red Sea Gateway Terminal, Saudi Arabia's leading container terminal operator and a subsidiary of the Sustainable Infrastructure Holding Company, has announced a strategic expansion into multi-purpose terminal operations, through newly awarded concessions at four existing strategic port facilities along the Red Sea. This significant milestone, in line with Saudi Arabia's Vision 2030, enhances the Kingdom's position as a global logistics hub and improves connectivity across international trade routes. Under the newly signed 20-year concession agreements with the Saudi Ports Authority, known as Mawani, RSGT will assume operational responsibility for the following terminals: Together, these ports contribute an additional 13 km of quay length and 3.3 million square meters of terminal space to RSGT's portfolio. Operations will be under the purview of RSGT's new multi-purpose terminals business unit, which will manage all non-containerized cargo segments, including ro-ro, general cargo, project cargo, dry and liquid bulk, and livestock. This strategic move has been made possible through the continued collaboration between RSGT and Mawani, whose commitment to public-private partnerships continues to play a pivotal role in transforming the Kingdom's port sector and enabling world-class logistics services. RSGT expects to invest a minimum of SR1.6 billion ($418 million) over the 20-year concession period, with SR700 million allocated for expenditure within the first five years of the concession period. These investments will focus on upgrading infrastructure, deploying advanced equipment, and introducing smart technologies to elevate all four terminals to world-class standards. The projected average annual throughput includes: 3 million tons of general cargo, 13 million tons of bulk cargo, 13.5 million tons of liquid bulk, 710,000 ro-ro units (vehicles), and 8 million head of livestock. RSGT will also pursue container terminal development in Yanbu, further positioning it as a strategic regional logistics hub. 'Our expansion into multi-purpose terminals marks a milestone in the evolution of our strategic vision,' said RSGT CEO Jens Floe. 'The additions to our portfolio and operations reflect our ongoing commitment to facilitating global trade, advancing economic diversification, and reinforcing Saudi Arabia's increasingly important role in global supply chains. This investment also lays the foundation for the next phase of our growth strategy, as we expand our international footprint across all cargo segments.' This expansion into non-containerized cargo handling at four new locations marks a significant step in RSGT's continued growth and diversification. By broadening its service portfolio beyond container operations, RSGT is strengthening its position as a leading logistics player in the region and expanding its role across global logistics chain. RSGT, the largest container terminal in Saudi Arabia and the Red Sea region, handled 3.1 million 20-foot equivalent units in 2024, a year negatively impacted by the ongoing Red Sea crises, with an annual capacity of 6.2 million TEUs at its flagship facility located at Jeddah Islamic Port. In early 2024, RSGT's associate company, Red Sea Gateway International, became Saudi Arabia's first international terminal operator by launching operations at Chittagong Port in Bangladesh. The addition of four new multi-purpose terminals to RSGT's portfolio further solidifies the Jeddah- based company's position as a diversified and globally active leader in logistics.
Zawya
24-06-2025
- Business
- Zawya
RSGT in 20-year deals to develop four major terminals on Red Sea
Sustained Infrastructure Holding Company (Sisco) has announced that its key subsidiary, Red Sea Gateway Terminal (RSGT), has signed 20-year build, operate and transfer (BOT) concession agreements to operate four multi-purpose terminals in the Red Sea. Under the terms of the concessions, RSGT will take over the existing facilities at King Fahd Industrial Port Yanbu, Yanbu Commercial Port, the Port of Jazan, and Jeddah Islamic Port muli-purpose and ro-ro terminal, said Sisco in its filing to Saudi bourse Tadawul. Over the full 20-year term of the concession, RSGT will invest a total of SAR1.569 billion ($418 million) in upgrading the four facilities, it stated. During the first five years of the concessions, RSGT will invest SAR672 million in infrastructure, equipment and technology to bring the four facilities to world-class operational standards. As part of the project, the newly acquired general cargo, dry and liquid bulk, Ro/Ro and livestock terminals will be run by RSGT's 100% owned recently established Multi-purpose Terminals (MPT) entity, which will manage all non-containerised port facilities within the expanding RSGT portfolio. The concessions will be effective from July 1 and as such the financial impact will be reflected in SISCO Holding and RSGT's financial statements from Q3 2025.-TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Argaam
23-06-2025
- Business
- Argaam
MAWANI signs SAR 2.2B privatization contracts for cargo terminals
The Saudi Ports Authority (MAWANI), in partnership with the National Center for Privatization & PPP, signed build-operate-transfer (BOT) contracts with national partners - Saudi Global Ports (SGP) and Red Sea Gateway Terminal (RSGT) - at an investment value of more than SAR 2.2 billion for multi-purpose cargo terminals at eight ports across the Kingdom. Under the 20-year agreements, SGP will develop, operate, and manage multi-purpose terminals on the East Coast, including King Abdulaziz Port in Dammam, Jubail Commercial Port, King Fahd Industrial Port in Jubail and Ras Al Khair Port, MAWANI said in a statement. On the West Coast, RSGT will handle the development, management and operation of multi-purpose terminals at Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port in Yanbu and Jazan Port. The contracts include investments in modernizing terminal infrastructure and equipment at King Fahd Industrial Port in Yanbu through upgrades that will feature RTG and STS cranes, reach stackers, and new trailer fleets, which is expected to improve truck turnaround times, reduce ship dwell periods, and enhance overall cargo handling efficiency. During the signing ceremony, Minister of Transport and Logistics Services and MAWANI's Chairman Saleh Al-Jasser said that the increased investments from the private sector reflect the attractiveness of Saudi ports and the logistics sector. He added that the sector is currently witnessing wide and diversified investments in infrastructure, driven by significant interest from leading global and national logistics companies.
Zawya
23-06-2025
- Business
- Zawya
SISCO Holding unit to invest $426m to upgrade four ports in Saudi Arabia
Saudi-listed Sustained Infrastructure Holding Company (SISCO Holding) said its subsidiary, Red Sea Gateway Terminal (RSGT), has signed four 20-year Build, Operate and Transfer (BOT) concession agreements with the Saudi Ports Authority (Mawani).for the operation of four existing port facilities on the Red Sea coast. RSGT will invest a total of 1.6 billion Saudi riyals ($426.42 million) in upgrades for the four facilities over 20 years, SISCO Holding said in a statement to the Saudi stock exchange on Monday. The newly acquired concessions cover general cargo, dry and liquid bulk, crude oil, petrochemical, RO/RO, and livestock terminals, SISCO Holding said. Under the new concession agreements, RSGT will consolidate the existing multi-purpose and Ro/Ro terminals at Jeddah Port, while taking operational control of King Fahd Industrial Port Yanbu, Yanbu Commercial Port, and Jazan Port. SISCO Holding's unit will invest SAR 672 million in infrastructure, equipment and technology to upgrade the four facilities over the first five years. The concessions will be run by RSGT's 100 percent owned Multi-purpose Terminals (MPT) business unit, which will take over operations of all non-containerised port facilities within the expanding RSGT portfolio. The move strengthens RSGT's service offerings, operational capacity, and ability to support growing trade flows through the Red Sea. The combined average annual cargo throughput for these facilities is projected to be three million tonnes of general cargo, 13 million tonnes of bulk cargo, 13.5 million tonnes of liquid bulk cargo, 710,000 units of RO/RO (vehicular) cargo, and 8 million head of livestock. The concessions will be effective from 1 July 2025. The financial impact will be reflected in SISCO Holding and RSGT's financial statements from the third quarter of 2025, the statement said. (Editing by Anoop Menon) (
