Some SR1.89 billion ($504 million) was allocated to boost the budget of the Saudi Ports Authority (SPA) in the fiscal year of 1434-1435, President of SPA Eng. Abdulaziz Al-Tuwaijri announced.
The amount to be spent on the projects currently being implemented exceeds SR 4 billion, Al-Tuwaijri said in press statements carried by the Saudi Press Agency.
He said one billion riyals were allocated for projects in Ras Al-Khair Port, including construction of new berths, expansion and the deepening of a basin whereas another SR 70 million was earmarked for the construction of a power plant and infrastructure projects in Yanbu Commercial Port.
Elaborating on the current budget allocations, the SPA Chief said SR 100 million was earmarked for the supply of new equipment and development of a sewage network at King Fahad Industrial Port in Yanbu, SR 65 million and SR 80 million for upgrading berths and facilities at Jubail Commercial Port and Jeddah Islamic Port respectively.
He said SR 150 million was allocated for the construction of yards and facilities at King Abdulaziz Port, implementation of a security system at King Fahad Industrial Port in Jubail at a cost of SR 95 million and another SR 57 million for upgrading port facilities at Jazan Port.
The new allocated funds came to complete existing projects worth SR 725 million such as construction or renovation of new or existing berths, procurement of equipment, construction of power plants, car parking and road maintenance works, he said.
Commenting on last year's budget, he said the volume of spending on projects exceeded SR 2 billion and some 25 projects were implemented at costs totaling more than SR 2.7 billion.