Hutchison Ports feels spark of hope
Two major logistics players have joined forces for a new project: Spark, an energy hub in Saudi Arabia’s Eastern Province, and Hutchison Ports, a terminal operator, have inked a shareholders’ agreement for the formation of a joint venture to manage and operate the dry port and bonded logistics zone in the Spark energy industrial city.
The 3 sqkm dry port provides a platform for the growing demand for logistic services for energy-related products in the Middle East and beyond while also serving the neighbouring industrial cities. The mega project, which spans over 50 sqkm, is a manufacturing, service centre and logistics hub for the energy sectors.
Its first phase is divided into a number of clusters: logistics zone, industrial hub, business district, digital hub and residential and commercial areas. The dedicated 3 sqkm dry port and logistics zone will include warehouses and storage facilities, a bonded area and on-site customs clearance. Mohammed Y. Al-Qahtani (right), chairman of Spark and Saif Al Qahtani (left), Spark president and CEO, attended the online signing ceremony.
Hutchison Ports is the ports and related services division of CK Hutchison Holdings. It runs a network of port operations in 52 ports spanning 26 countries in Asia, the Middle East, Africa, Europe, the Americas and Australasia.
Over the years, Hutchison Ports has expanded into other logistics and transportation-related businesses, including cruise ship terminals, distribution centres, rail services and ship repair facilities. It handled a combined throughput of 83.7 million teu in 2020. (cd)