Saudi PIF’s SCAI to invest $776m to boost AI in Kingdom

Saudi PIF’s SCAI to invest $776m to boost AI in Kingdom
Saudi PIF’s SCAI to invest $776m to boost AI in Kingdom

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi ports recorded a 14.48 percent increase in container throughput volumes to 942,621 twenty-foot equivalent units in August 2022 compared to 823,542 TEUs recorded during the same period last year, according to a press release by the Saudi Ports Authority. 

Similarly, its exported container throughput in August witnessed a rise of 21.92 percent to reach 218,375 TEUs against 179,238 TEUs recorded in August 2021. 

The imported container throughput reached 235,449 TEUs in August 2022, a rise of 31.74 percent compared to the same period last year. 

The rise in cargo throughput volumes indicates Saudi Arabia’s journey to emerge as a global logistics hub, in line with the Kingdom’s Vision 2030. 

The transshipment container throughput volume in August reached 488,181 TEUs to record a 4.93 percent increase compared to the 465,234 TEUs recorded in August 2021. 

MAWANI noted that the rise in container throughput volumes is the result of efforts undertaken to develop the maritime sector, and enhance operational efficiency, along with improving the legislative and regulatory environment by restructuring procedures while strengthening partnerships with the private sector. 

The total throughput volumes in August reached 29,342,656 tons, a growth of 17.39 percent compared to the same period last year. 

The general cargo volumes in Saudi ports increased 12.63 percent to reach 739,701 tons in August 2022, the release added. 

The number of vessels reached 972 in August 2022, marking a rise of 0.21 percent, while the number of imported vehicles increased by 15.64 percent to 72,698 from 62,864 vehicles recorded in August 2021. 

Food volumes also were 42.92 percent higher in August 2022 reaching 2,251,491 tons compared to last year’s 1,575,316 tons.

Livestock volumes recorded a 248.73 percent growth with 149,230 cattle heads compared to the 42,792 cattle heads recorded last year. 

Earlier in June, Sulaiman Al-Mazroua, CEO of the National Industrial Development and Logistics Program, during an exclusive interaction with Arab News said that the Kingdom needs a huge investment combined between the government and private sector by 2030 to materialize its vision to become a global logistics hub. 

During the interview, Al-Mazroua noted that Saudi Arabia’s geographical location is a crucial factor that could elevate the country’s spot on the logistics map in the future. 

He revealed that the Kingdom lies in a strategic location between the three continents, on the coast of the Red Sea, where more than 13 percent of the world’s logistic traffic passes yearly.

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