The Saudi Port Authority (MAWANI) will build a 2 billion riyals ($533 million) centre for supplying ships with fuel.

MAWANI signed an agreement with the Ministry of Energy to establish an integrated bunkering centre in King Fahd Industrial Port at Yanbu on the Red Sea coast, according to a tweet from the port authority.

According to MAWANI, the centre will be built in a 393,000 sqm facility.

The partnership is a continuation of the efforts made to enhance the Kingdom’s pivotal position to supply fuel to ships transiting through the Red Sea, it said.

In February 2023, A.P. Moller – Maersk (Maersk) and MAWANI started construction on Saudi Arabia’s largest Integrated Logistics Park at Jeddah Islamic Port.

(Writing by Seban Scaria; editing by Anoop Menon)

(seban.scaria@lseg.com)