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Saudi Economic City to expand port to hold up to five million containers

Published: Updated:

In an exclusive interview with Al Arabiya News Channel on the sidelines of the World Economic Forum (WEF) in Davos, Fahd Al Rasheed, Managing Director and Chief Executive Officer of King Abdullah Economic City (KAEC), said that the company has plans for this year which are in line with Saudi Vision 2030.

The plans include launching an entrepreneurship investment fund worth 70 million riyals.

He stressed that King Abdullah Economic City focuses on attracting entrepreneurs.

Rasheed said plans include expanding the port from a capacity of three million containers to five million containers, as well as adding new logistics services.

Al-Rasheed pointed out that 38 projects have been launched in the field of tourism and leisure, and that one billion riyals will be invested to create a golf course.

Al-Rashid said that the number of visitors will increase from 400,000 to one million visitors this year.

KAEC plans to use solar energy in the desalination project, he added.