CMA CGM and RSGT Invest $434 Million in Jeddah Port

The French shipping group CMA CGM Group and Red Sea Gateway Terminal (RSGT) signed definitive agreements to jointly develop and operate Terminal 4 at Jeddah Islamic Port in Saudi Arabia. The project involves an initial investment of approximately $434 million (SAR 1.6 billion) and is conducted in collaboration with the Saudi Ports Authority, also known as Mawani.

Signed in Paris during a French-Saudi Investment Roundtable attended by Crown Prince Mohammed bin Salman and President Emmanuel Macron, the expansion will add 2.6 million twenty-foot equivalent units (TEUs) of annual handling capacity. This increases the port's existing 6.2 million TEU capacity. The development includes 10 new ship-to-shore cranes and deep-water berths specifically designed to accommodate the world's largest container vessels.

Executives from both companies emphasized the strategic nature of the investment. Rodolphe Saadé, Chairman and CEO of CMA CGM Group, noted that terminals are becoming strategic assets essential for securing operations and strengthening trade corridors. RSGT Executive Chairman Aamer Abdullah Alireza stated the infrastructure would create long-term value and support the Kingdom's transformation into a global logistics hub.

The initiative aligns with Saudi Arabia's Vision 2030 and National Transport and Logistics Strategy, aiming to improve connectivity for imports and exports while strengthening the port's position on major East-West shipping routes.