MAWANI signs SAR 500M deal to establish marine bunkering hub at King Fahad Industrial Port

The Saudi Ports Authority (MAWANI) signed a land lease agreement with the National Petroleum & Petrochemical Tank & Pipelines Company (Petrotank) to build an integrated marine bunkering hub at King Fahad Industrial Port in Yanbu, with a total investment of SAR 500 million.

The project will operate under a 20-year lease, MAWANI said in a statement.

The project will cover an area of 110,700 square meters (sqm), helping to increase vessel traffic and elevate the Kingdom’s ports regionally and globally. It also aligns with the objectives of the National Transport and Logistics Strategy (NTLS), which aims to solidify the Kingdom’s standing as a global logistics hub bridging three continents.

King Fahad Industrial Port in Yanbu is one of the Kingdom’s primary industrial ports on the Red Sea coast, known for high handling capacity for various types of cargo, including refined products and petrochemicals. The port spans 6.8 sq km, features 34 berths and 10 terminals, with a capacity of up to 210 million tons.