17/06/2012
Revenues of the Saudi seaports during the fiscal year 2011 increased by 10.6 percent to SR 3.282 billion. It compared to the revenues of SR 2.966 last year which witnessed an increase of 9.6 per cent as against the previous year.
It was revealed in the annual report of the Saudi Seaport Authority for the Hijra years 1432 and 1433. The operating expenses of the port authority during the period amounted to SR618 million to achieve a surplus from an approximately SR2.663 billion.
The annual report detailed the most prominent features of the current situation of the Ports authority and its organizational structures, labor force, assets, docks, warehouses, workshops, buildings, equipment, and others.
Minister and chairman of the board of the Saudi Seaport Authority, Dr. Jubara Al-Suraisri said in a speech published in the annual report that the port has made a quantum leap from the modest loading and unloading of goods to the modern handling of cargoes generating revenues to the state treasury.
Abdul Aziz Bin Muhammad Al-Twaijiri, President of the Seaport Authority, said that transportation is an essential means to the economic development and without it,successful development is not possible. He added that the Kingdom has good transport network which is managed with great efficiency.
He pointed out the fact of receiving sufficient funds each year for the implementation of projects which increased the port capacity in operations as well as in competitiveness opening up the opportunity for private sector participation in the management of ports operations on the build-operate-and-transfer (BOT) basis which resulted in the extensive participation of private sector, and generating employment opportunities in various professions.
