The Riyadh office of UK-based law firm Latham & Watkins, in association with the Law Office of Mohammed al-Sheikh, is advising Saudi Global Ports for the second container terminal at King Abdulaziz Port in Dammam.
Latham & Watkins will assist with the concession agreement with the Saudi Ports Authority for the construction and operation of the new terminal.
Earlier in July, the Saudi Ports Authority signed a $533m contract with Saudi Global Ports to build a second container terminal at King Abdulaziz port.
The new terminal will add 1.5 million twenty-foot equivalent units (TEUs) bringing the total capacity of the port to three million TEUs. The terminal will be constructed on a build-own-transfer (BOT) system and is expected to be complete by 2014.
Saudi Global Ports is a joint venture owned by the kingdom’s Public Investment Fund and a subsidiary of PSA International.