CMA CGM Invests in Jeddah Port Expansion

CMA CGM Group and Red Sea Gateway Terminal (RSGT) have announced a joint investment of $434 million to develop a new container terminal at Saudi Arabia’s Jeddah Islamic Port. This investment, equivalent to SAR 1.6 billion, will fund the construction of new deep-water berths capable of accommodating the world’s largest containerships, along with advanced terminal equipment and 10 new ship-to-shore cranes. The development will add up to 2.6 million TEUs of annual capacity, aiming to support the growing trade volumes in Saudi Arabia and enhance Jeddah's strategic position on major East-West shipping routes through the Red Sea. The agreement was signed in Paris during a French-Saudi investment roundtable attended by Saudi Crown Prince Mohammed bin Salman and French President Emmanuel Macron. The project aligns with Saudi Arabia’s Vision 2030 and the National Transport and Logistics Strategy, focusing on expanding the country's ports and logistics infrastructure.