Saudi Arabian Logistics (SAL) signed a partnership agreement with Dammam Airports Company on Sunday for 100 million riyals ( or US 26.66 million) to develop and rehabilitate an air cargo building at the King Fahd International Airport in Dammam, Saudi Arabia, the Saudi state news agency reported.
SAL, a member of Saudi Arabian Airlines Corporation, said the scope of work includes the renovation, operation, and maintenance, of the terminal, for a period of 20 years. SAL will be investing SAR100 million ($26.6 million) in three phases over a period of 10 years from 2024 to 2033, said the Saudi logistics company in its filing to the bourse Tadawul.
A major supply chain solutions provider in Saudi Arabia, SAL was established in December 2019, following Saudi Airlines Cargo Company’s cargo ground handling division being incorporated into a separate legal entity, to act as a pivotal catalyst in driving KSA’s economic transformation and the Kingdom’s aspiration of becoming a global logistics hub. It handles 95% of the country’s inbound and outbound air cargo, making it the national logistics champion within the kingdom and a key driver in the sector’s transformation outlined in Vision 2030.