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Chinese heavy equipment manufacturer Sany has inked an agreement with PIF-backed JV Saudi Global Ports (SGP) to supply King Abdulaziz Port in Dammam with 80 e-trucks, according to a press release. The specific investment tickets for the vehicles was not disclosed, but the transaction comes as part of a larger SAR 7 bn investment between Saudi Ports Authority (Mawani) and SGP to develop and operate container terminals at the port.
Sany is already present in the Kingdom: Sany deployed 77 units of equipment in 2021 to help construct the King Salman Global Maritime Industries Complex, according to a press release. The agreement was part of a USD 3 bn contract signed in 2017 between Saudi Arabia and China Power Construction Group. Sany Port Machinery — a subsidiary of Sany Group — secured a USD 7.5 mn order of mobile port machinery from King AbdulAziz Port in 2016.
A boon for the port’s operations: Mawani recently added a new shipping service — dubbed TPA — to boost connectivity between King Abdul Aziz Port and a number of ports in China and the Pacific Ocean. Mawani and global transportation company G4 Logistics also signed a SAR 200 mn agreement to set up silos and warehouses for grain storage at the Port. Mawani and SGP also signed an agreement in October 2023 to build a SAR 1 bn logistics park at the port, which is set to attract local and international private sector investments.
