Red Sea Gateway Company, which is 60 percent-owned by Saudi Industrial Services Company, (SISCO) won in August a 20-year contract to operate the container terminal in Dhiba port, north of the Red Sea coast in Saudi Arabia, according to a statement on the Saudi Ports Authority website.
SISCO, however, has not yet disclosed the news on the Tadawul website.
Port Authority spokesman Mosaed al-Daris recently told Argaam in an interview that operations at the Dhiba container port will start before the end of 2015.
Red Sea Gateway Ltd. currently operates another terminal in Jeddah Islamic Port.
Dhiba is the nearest Saudi port to the Suez Canal. The eight-dock port was developed to serve the north western provinces of Saudi Arabia.
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