RSGT and CMA CGM invest US$434 million in Jeddah Terminal 4

Red Sea Gateway Terminal and CMA CGM Group have signed definitive agreements to jointly develop and operate Terminal 4 at Jeddah Islamic Port. The partners will initially invest approximately US$434 million, equivalent to SAR 1. 6 billion, in the project. The development will add up to 2. 6 million TEUs of annual container-handling capacity at the Saudi port.