Skip to main content

New Global Logistics Hub Activated as Saudi Arabian Mega Port Commences Operations






















BY REUTERS ON JANUARY 26, 2014





Image: PDC





 





By Mirna Sleiman




















DAVOS, Switzerland, Jan 26 (Reuters) – Emaar Economic City, a big Saudi real estate firm, has started operations at the country’s first privately owned port and will more than triple investment in the facility over the next five years, the company’s chief executive said.













“Shipping lines are redrawing their logistics maps, where they stop and where they go. It will impact every port around the world,”
Fahd Al Rasheed said in an interview on the sidelines of the World Economic Forum in Davos.













Emaar Economic City, a consortium headed by Dubai’s Emaar Properties and Saudi investors, is focused on building the King Abdullah Economic City, a special economic zone up Saudi Arabia’s Red Sea coast from Jeddah.












The zone is projected to be the size of Washington, D.C. when completed, hosting as many as 2 million people and helping to diversify the country’s economy beyond oil into light industry and shipping.










The project is important for Saudi economic policy-making because, although it has Saudi government backing, it is being operated by a company with a local stock market listing and a significant private investor base – an effort to involve market discipline in the project and spread wealth generated by it among the broad population.











King Abdullah Economic City’s port, which began operating on Jan. 6, has the potential to become a global logistics hub, handling trade for the entire region, Rasheed said.






“Twenty-five percent of global trade goes through the Red Sea but we’ve never leveraged it in the region.”









A total of 2.5 billion riyals ($665 million) has been invested in the port so far and the amount is expected to rise to 9 billion riyals by 2018, Rasheed said. 






The port’s annual capacity, now 1.3 million twenty-foot equivalent units, is expected to rise to 4 million TEUs in two years, 7 million in 2018 and ultimately 20 million.






Meanwhile, an industrial zone attached to King Abdullah Economic City is expected to be completed by 2020. It has so far attracted 70 firms, with factories operational in pharmaceuticals, building materials, car parts, plastics and packaging, Rasheed said. Companies are offered very low rents and soft loans from the government for capital investment.






“We are now at a stage where we are not only inviting big names to locate in King Abdullah Economic City but we also need third-party developers to co-invest with us to develop faster, especially in housing,” Rasheed said.








He added that Emaar Economic City had so far raised $4 billion of capital and attracted an additional $10 billion to the project from other investors and from sales.





“Our cash flow right now is very healthy so we don’t project any need to raise funds.”






(c) 2014 Thomson Reuters, All Rights Reserved









http://gcaptain.com/king-abdullah-economic-city-port-commences-operations



Popular posts from this blog

MEET MELANIA TRUMP: The 5'11" supermodel married to Donald Trump

Aly Weisman, INSIDER

Sep. 2, 2015, 3:28 PM 











Chip Somodevilla/Getty Images







While Donald Trump loves to be the center of media attention, his third and current wife, Melania Trump, is a bit more camera shy.










The Slovenian-born model keeps a lower profile than her husband, doing philanthropy work, raising their son, working on a jewelry collection with QVC, and creating a $150-an-ounce caviar moisturizer.




With Trump on the campaign trail, Melania has stoically stood by his side.




But who exactly is Melania and where did she come from? Learn about Trump's other half here ...





Melania Knauss was born April 26, 1970, in Slovenia.




Wikimedia/Getty







The 5'11" brunette began her modeling career at 16, and signed with a modeling agency in Milan at 18.



Chris Hondros/Newsmakers via Getty









She took a break from modeling to get her degree in design and architecture at the University of Ljubljana in Slovenia.








Wikimedia/Getty

Source: MelaniaTrump.com









But after graduating, her modeling career took off and Me…

THE MOST SOUGHT AFTER MANGOES IN THE WORLD ....

While "Flavor" is very subjective, and each country that grows mangoes is very nationalistic, these are the mango varieties that are the most sought after around the world because of sweetnesss (Brix) and demand.

The Chaunsa has a Brix rating in the 22 degree level which is unheard of!
Carabao claims to be the sweetest mango in the world and was able to register this in the Guiness book of world records.
Perhaps it is time for a GLOBAL taste test ???





In alphabetical order by Country....










India




Alphonso





Alphonso (mango)
From Wikipedia, the free encyclopedia








Alphonso (हापुस Haapoos in Marathi, હાફુસ in Gujarati, ಆಪೂಸ್ Aapoos in Kannada) is a mango cultivar that is considered by many[who?] to be one of the best in terms of sweetness, richness and flavor. 


It has considerable shelf life of a week after it is ripe making it exportable. 

It is also one of the most expensive kinds of mango and is grown mainly in Kokan region of western India.

 It is in season April through May and the fruit wei…

INDIA 2016 : Mango production in state likely to take a hit this year

TNN | May 22, 2016, 12.32 PM IST






Mangaluru: Vagaries of nature is expected to take a toll on the production of King of Fruits - Mango - in Karnataka this year. A combination of failure of pre-monsoon showers at the flowering and growth stage and spike in temperature in mango growing belt of the state is expected to limit the total production of mango to an estimated 12 lakh tonnes in the current season as against 14 lakh tonnes in the last calendar year.



However, the good news for fruit lovers is that this could see price of mangoes across varieties decrease marginally by 2-3%. This is mainly on account of 'import' of the fruit from other mango-growing states in India, said M Kamalakshi Rajanna, chairperson, Karnataka State Mango Development and Marketing Corporation Ltd.




Karnataka is the third largest mango-growing state in India after Uttar Pradesh and Maharashtra.



Inaugurating a two-day Vasanthotsava organized by Shivarama Karantha Pilikula Nisargadhama and the Corporation at P…